Vanguard Discloses 7.2% Passive Stake in NOV Inc. as of Dec 29

TL;DR

**Vanguard still owns 7.2% of NOV Inc., showing continued confidence.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in NOV Inc. As of December 29, 2023, Vanguard beneficially owned 27,994,766 shares of NOV Inc. Common Stock, representing 7.2% of the company. This is an update to their previous filing, indicating a slight adjustment in their passive investment stake. For investors, this shows that a large institutional investor maintains a significant, albeit passive, position in NOV Inc., which can be a sign of long-term confidence in the company's value.

Why It Matters

This filing confirms Vanguard's continued significant, passive investment in NOV Inc., signaling their belief in the company's long-term prospects without seeking to influence management. It provides transparency on institutional ownership, which can influence market perception and stability.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or changes in company operations.

Analyst Insight

A smart investor would note Vanguard's continued significant, passive stake as a sign of long-term institutional confidence, but would also conduct their own due diligence on NOV Inc.'s fundamentals and industry outlook before making any investment decisions.

Key Numbers

• 27,994,766 — Shares owned by Vanguard (Represents Vanguard's total beneficial ownership in NOV Inc.)
• 7.2% — Percentage of class owned (Indicates Vanguard's significant, passive stake in NOV Inc.)
• December 29, 2023 — Event Date (The specific date for which the ownership percentage is reported.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• NOV Inc. (company) — subject company, an oil & gas machinery and equipment manufacturer
• 27,994,766 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 7.2% (dollar_amount) — percentage of NOV Inc. common stock owned by Vanguard
• December 29, 2023 (date) — date of the event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• Vanguard will maintain a significant, passive stake in NOV Inc. for the foreseeable future. (The Vanguard Group) — high confidence, target: 2025-12-31

FAQ

From the Filing

0001104659-24-021582.txt : 20240213 0001104659-24-021582.hdr.sgml : 20240213 20240213170951 ACCESSION NUMBER: 0001104659-24-021582 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 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/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-49577 FILM NUMBER: 24629136 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: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01571-novinc.htm SCHEDULE 13G/A novinc SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 12)* Name of issuer:  NOV Inc Title of Class of Securities:  Common Stock CUSIP Number:  62955J103 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) *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 the disclosures provided in a prior cover page. The information required in 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). (Continued on the following page(s))     13G CUSIP No.:  62955J103 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 138,296 7.  SOLE DISPOSITIVE POWER 38,670,623 8.  SHARED DISPOSITIVE POWER 511,907 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 39,182,530 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 9.95% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: NOV Inc Item 1(b) - Address of Issuer's Principal Executive Offices: 10353 Richmond Avenue Houston, TX 77042-4103 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: