DNOW Inc. (NYSE:DNOW) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in shares of DNOW Inc. (NYSE:DNOW) by 4.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 501,863 shares of the oil and gas company’s stock after selling 25,076 shares during the quarter. Principal Financial Group Inc. owned 0.47% of DNOW worth $6,489,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of DNOW by 1,062.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,802 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 2,561 shares during the period. Quarry LP grew its position in DNOW by 75.6% in the second quarter. Quarry LP now owns 4,433 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 1,908 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of DNOW during the second quarter valued at approximately $67,000. nVerses Capital LLC acquired a new position in shares of DNOW during the third quarter worth $78,000. Finally, CWM LLC lifted its position in shares of DNOW by 144.9% during the second quarter. CWM LLC now owns 6,767 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 4,004 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of DNOW from a “hold” rating to a “buy” rating in a report on Thursday, August 15th.

DNOW Stock Down 0.3 %

Shares of NYSE DNOW opened at $14.36 on Wednesday. The business has a 50 day moving average price of $12.80 and a two-hundred day moving average price of $13.31. DNOW Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.65. The firm has a market cap of $1.52 billion, a PE ratio of 7.68 and a beta of 1.45.

DNOW (NYSE:DNOW) last issued its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $606.00 million during the quarter, compared to analyst estimates of $614.92 million. DNOW had a net margin of 8.70% and a return on equity of 8.90%. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. On average, analysts anticipate that DNOW Inc. will post 0.84 earnings per share for the current year.

DNOW Profile

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.