Top investors

The Vanguard Group, Dodge & Cox, and First Eagle Investment Management are the top three institutional investors in National Oilwell Varco (NOV). The three own 10.6%, 7.0%, and 6.6% of NOV’s outstanding shares. Together, the top ten investors in NOV own 51.4% of its outstanding shares.

Are Institutional Investors Bearish on National Oilwell Varco?

The above table shows the top ten investors in National Oilwell Varco and their recent position changes. As the table shows, eight of the top ten investors in National Oilwell Varco reduced their positions in the stock in Q3, which likely indicates their bearish sentiment for the stock.

Together, the top ten investors sold 11.7 million NOV shares in Q3. The Vanguard Group bought 0.5 million NOV shares while Dodge & Cox and First Eagle Investment Management sold 4.8 million and 1.8 million NOV shares, respectively, in Q3.

Top transactions

Pzena Investment Management recently bought 4.8 million National Oilwell Varco shares. Capital Research Global Investors added 3.1 million NOV shares to its position. It now owns 2.5% of NOV’s outstanding shares. AllianceBernstein bought 2 million NOV shares.

Vulcan Value Partners sold 5.6 million while Dodge & Cox sold 4.8 million NOV shares in Q3. American Century Investment Management sold 3.3 million NOV shares.

National Oilwell Varco has ~0.4 billion shares outstanding, of which 99.6% are free-floating. National Oilwell Varco forms ~4.8% of the VanEck Vectors Oil Services ETF (OIH). Let’s discuss the institutional investor activity in TechnipFMC (FTI) in Q3 next in this series.

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