Vanguard Discloses 3.8% Passive Stake in FuelCell Energy

TL;DR

**Vanguard still holds a big chunk of FuelCell Energy, but it's a passive stake.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership of 16,842,506 shares of FuelCell Energy Inc. common stock as of December 29, 2023. This represents a 3.8% passive ownership stake in the company. This filing is important for investors as it shows Vanguard's continued, albeit slightly reduced, significant passive investment in FuelCell Energy, indicating their long-term view on the stock without seeking to influence management.

Why It Matters

This filing confirms Vanguard's ongoing, substantial passive investment in FuelCell Energy, signaling to other investors that a major institutional player maintains a position in the company.

Risk Assessment

Risk Level: low — This is a routine disclosure of passive institutional ownership, which generally does not introduce new risks to the stock.

Analyst Insight

Investors should note that a major institutional investor like Vanguard holds a significant, passive stake in FuelCell Energy, which could be seen as a vote of confidence, but it doesn't suggest any imminent strategic changes or activist involvement.

Key Numbers

• 16,842,506 — Shares Beneficially Owned (Represents the total number of FuelCell Energy common stock shares held by The Vanguard Group.)
• 3.8% — Ownership Percentage (Indicates the percentage of FuelCell Energy's common stock owned by The Vanguard Group, signifying a significant but passive stake.)
• December 29, 2023 — Reporting Date (The specific date as of which Vanguard's ownership stake in FuelCell Energy is being reported.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• FuelCell Energy Inc. (company) — subject company whose securities are being reported
• 16,842,506 shares (dollar_amount) — total number of shares beneficially owned by Vanguard
• 3.8% (dollar_amount) — percentage of FuelCell Energy's common stock owned by Vanguard
• December 29, 2023 (date) — date of the event which required the filing

Forward-Looking Statements

• Vanguard will likely maintain a passive investment strategy in FuelCell Energy Inc. (The Vanguard Group) — high confidence, target: Ongoing

FAQ

Filing Documents

• tv0069-fuelcellenergyinc.htm (SC 13G/A) — 11KB
• 0001104659-24-020061.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: FuelCell Energy Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 3 Great Pasture Road Danbury, CT 06810

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 35952H601

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, 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 and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR