Pzena Investment Management Discloses 3.4% Stake in NOV Inc.

TL;DR

**Pzena Investment Management just revealed a 3.4% stake in NOV Inc., signaling institutional confidence.**

AI Summary

Pzena Investment Management LLC, a Delaware-based investment firm, reported owning 13,019,258 shares of NOV Inc. (formerly National Oilwell Varco Inc.) common stock as of December 31, 2023. This represents 3.4% of NOV Inc.'s total outstanding shares. This matters to investors because it signals that a significant institutional investor sees value in NOV Inc., potentially indicating a positive outlook for the company's future performance in the oil and gas machinery and equipment sector.

Why It Matters

This filing shows a major institutional investor, Pzena Investment Management, has a substantial stake in NOV Inc., which can influence market perception and potentially attract other investors.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of an institutional holding and does not indicate any immediate negative risks for investors.

Analyst Insight

A smart investor would view this as a positive signal, suggesting that a sophisticated institutional investor sees value in NOV Inc. and might consider further research into the company's fundamentals and future prospects.

Key Numbers

• 13,019,258 — Shares Owned (The total number of NOV Inc. common shares beneficially owned by Pzena Investment Management LLC.)
• 3.4% — Ownership Percentage (The percentage of NOV Inc.'s common stock owned by Pzena Investment Management LLC, indicating a significant stake.)

Key Players & Entities

• Pzena Investment Management LLC (company) — the reporting person and institutional investor
• NOV Inc. (company) — the subject company whose shares are being reported
• 13,019,258 (dollar_amount) — number of shares beneficially owned by Pzena Investment Management LLC
• 3.4% (dollar_amount) — percentage of NOV Inc. class of securities beneficially owned
• December 31, 2023 (person) — date of the event requiring the filing

Forward-Looking Statements

• Pzena Investment Management LLC will maintain or increase its stake in NOV Inc. over the next year. (Pzena Investment Management LLC) — medium confidence, target: December 31, 2024

FAQ

From the Filing

0000950170-24-013063.txt : 20240209 0000950170-24-013063.hdr.sgml : 20240209 20240209092035 ACCESSION NUMBER: 0000950170-24-013063 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NOV Inc. CENTRAL INDEX KEY: 0001021860 STANDARD INDUSTRIAL CLASSIFICATION: OIL & GAS FILED MACHINERY & EQUIPMENT [3533] ORGANIZATION NAME: 06 Technology IRS NUMBER: 760475815 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-49577 FILM NUMBER: 24611828 BUSINESS ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 BUSINESS PHONE: 346-223-3000 MAIL ADDRESS: STREET 1: 10353 RICHMOND AVE. CITY: HOUSTON STATE: TX ZIP: 77042 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL VARCO INC DATE OF NAME CHANGE: 20050311 FORMER COMPANY: FORMER CONFORMED NAME: NATIONAL OILWELL INC DATE OF NAME CHANGE: 19960829 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PZENA INVESTMENT MANAGEMENT LLC CENTRAL INDEX KEY: 0001027796 ORGANIZATION NAME: IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 320 PARK AVENUE, 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-355-1600 MAIL ADDRESS: STREET 1: 320 PARK AVENUE, 8TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G 1 nov_inc_13g_dec_2023.htm SC 13G SC 13G       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   SCHEDULE 13G Under the Securities Exchange Act of 1934   NOV Inc (Name of Issuer) COMMON STOCK (Title of Class of Securities) 62955J103 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement)   Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) ☒ Rule 13d-1(b) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).             SCHEDULE 13G     CUSIP NO. 62955J103       PAGE 2  OF 6 PAGES   1. Name of reporting person/s.s. Or I.R.S. Identification No. of above person   PZENA INVESTMENT MANAGEMENT, LLC 2. Check the appropriate box if a member of a group (a) ☐     (b) ☐ 3. SEC use only   4. Citizenship or place of organization DELAWARE Number of 5. Sole voting power 26,231,801 shares beneficially owned by 6. Shared voting power 0 each reporting person 7. Sole dispositive power    31,371,893 with: 8. Shared dispositive power 0 9. Aggregate amount beneficially owned by each reporting person 31,371,893 10. Check box if the aggregate amount in Row (9) excludes certain shares* ☐   11. Percent of class represented by amount in Row (9)    8.0% 12. Type of reporting person* IA             SCHEDULE 13G     CUSIP NO. 62955J103       PAGE 3  OF 6 PAGES   ITEM 1. (a) Name of Issuer: Nov Inc. (b) Address of Issuer's Principal Executive Offices: 7909 Parkwood Circle Drive Houston, TX 77036 ITEM 2. (a) Name of Person Filing: Pzena Investment Management, LLC (b) Address of Principal Business Office or, if none, Residence: 320 Park Avenue, 8th Floor, New York, NY 10022 (c) Citizenship: Delaware (d) Title of Class of Securities: Common Stock