Los Angeles-based money manager Capital Group acquired over 23 million shares of CommScope Holding Co. on Aug. 31, maintaining a 12.2 percent stake in the company, according to a Securities and Exchange Commission filing on Friday.
Capital Group’s stake in CommScope is worth an estimated $758.3 million. It is one of the world’s oldest and largest investment management organizations and has $1.5 trillion in assets under mnaagement.
Other institutional investors of the Hickory-based communications infrastructure provider company include Vanguard Group Inc., BlackRock Inc., FMR LLC, and Wellington Management Group.
Combined, these institutions hold more than 210 million shares shares of CommScope.
CommScope, which opened in 1976, is a multi-national infrastructure provider company with over 25,000 employees worldwide with customers in over 130 countries.
The company has an estimated market capitalization of over $6 billion.
Commscope was trading at $33.01 per share, unchanged, in Friday afternoon trading.