Nuveen LLC Takes $18.48 Million Position in DNOW Inc. $DNOW

Key Points

• Nuveen LLC has acquired a new stake in DNOW Inc., purchasing over 1 million shares valued at approximately $18.5 million, giving it a 1.02% ownership in the company.
• DNOW's stock recently experienced a positive movement, opening at $14.7960, with a market cap of $1.58 billion and a PE ratio of 19.47.
• Wall Street analysts have upgraded DNOW's rating, with a consensus of "Buy" and a price target of $18.00, after the company reported strong quarterly earnings exceeding expectations.

Nuveen LLC acquired a new stake in DNOW Inc. (NYSE:DNOW - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,082,145 shares of the oil and gas company's stock, valued at approximately $18,483,000. Nuveen LLC owned approximately 1.02% of DNOW as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in DNOW in the first quarter valued at $220,000. GAMMA Investing LLC increased its stake in DNOW by 122.1% in the first quarter. GAMMA Investing LLC now owns 1,859 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 1,022 shares during the last quarter. Principal Financial Group Inc. increased its stake in DNOW by 2.5% in the first quarter. Principal Financial Group Inc. now owns 526,101 shares of the oil and gas company's stock valued at $8,986,000 after purchasing an additional 12,797 shares during the last quarter. CWM LLC increased its stake in DNOW by 111.0% in the first quarter. CWM LLC now owns 6,726 shares of the oil and gas company's stock valued at $115,000 after purchasing an additional 3,539 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in DNOW in the first quarter valued at $250,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on DNOW. Stifel Nicolaus dropped their target price on DNOW from $19.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, July 21st. Zacks Research upgraded DNOW to a "strong-buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $18.00.

DNOW Trading Down 1.0%

NYSE:DNOW traded down $0.1650 on Monday, hitting $15.6550. 879,766 shares of the stock were exchanged, compared to its average volume of 1,343,315. The stock has a market cap of $1.68 billion, a PE ratio of 20.60 and a beta of 1.13. The stock has a fifty day moving average of $14.84 and a 200-day moving average of $15.30. DNOW Inc. has a fifty-two week low of $11.42 and a fifty-two week high of $18.45.

DNOW (NYSE:DNOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The company had revenue of $628.00 million during the quarter, compared to analyst estimates of $612.60 million. DNOW had a return on equity of 8.97% and a net margin of 3.45%.The firm's revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. As a group, analysts predict that DNOW Inc. will post 0.86 earnings per share for the current year.

About DNOW

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.