SCHEDULE: BlackRock Amends Passive Stake in ModivCare Inc. to 2.2%
Ownership Disclosure
BlackRock, Inc. has filed an Amendment No. 4 to its Schedule 13G, reporting a 2.2% passive beneficial ownership stake in ModivCare Inc.
Summary
- BlackRock, Inc. reported beneficial ownership of 317,720 shares of ModivCare Inc. common stock.
- This ownership represents 2.2% of ModivCare Inc.'s total outstanding common stock.
- BlackRock holds sole voting power over 315,301 shares and sole dispositive power over 317,720 shares.
- The filing is an Amendment No. 4 to a Schedule 13G, indicating a passive investment.
- The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of ModivCare Inc.
Sentiment
Score: 5
Explanation: Neutral. This is a routine compliance filing for passive ownership and does not contain information that would significantly alter sentiment about the issuer.
Positives
- Continued investment by a major institutional investor like BlackRock may signal ongoing confidence in ModivCare Inc.
Negatives
- The reported ownership percentage of 2.2% is below the 5% threshold typically associated with significant institutional influence, suggesting a relatively minor passive stake.
Risks
- No specific risks related to ModivCare Inc. are detailed in this ownership disclosure document.
Future Outlook
NA
Management Comments
- The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.
Industry Context
BlackRock is one of the world's largest asset managers, and its passive holdings in various publicly traded companies are standard practice for its index funds and other investment vehicles. This filing reflects a routine regulatory disclosure of its stake in ModivCare Inc., a company operating in the healthcare services sector.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact (for BlackRock, Inc. filing purposes) | N/A (new list of attorneys-in-fact) | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | New Power of Attorney issued by BlackRock, Inc., revoking a previous one dated April 30, 2023, to authorize specific individuals for regulatory filings. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update (BlackRock, Inc. internal) | BlackRock, Inc. issued a new Power of Attorney, effective January 21, 2025, authorizing specific individuals to execute and file documents related to ownership or control-person reporting requirements. This new Power of Attorney revokes the previous one dated April 30, 2023. | 2025-01-21 | Streamlines BlackRock's internal compliance processes for SEC and other regulatory filings by updating the list of authorized signatories. |
Stakeholder Impact
- Shareholders of ModivCare Inc.: Provides transparency regarding a significant institutional holder's passive stake.
- BlackRock Clients: Confirms BlackRock's compliance with regulatory reporting for its managed funds.
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Previous Power of Attorney date, which was revoked by the new Power of Attorney. |
| 2025-01-21 | Effective date of the new Power of Attorney issued by BlackRock, Inc. |
| 2025-06-30 | Date of the event which required the filing of this statement. |
| 2025-07-17 | Signature date of the Schedule 13G filing by BlackRock, Inc. |
Keywords
BlackRock, ModivCare Inc., Schedule 13G, Beneficial Ownership, Institutional Investment, Common Stock, Passive Investment, SEC Filing
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