DNOW Inc. $DNOW Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in DNOW Inc. (NYSE:DNOW) by 12.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 516,981 shares of the oil and gas company’s stock after selling 72,674 shares during the period. Principal Financial Group Inc.’s holdings in DNOW were worth $7,884,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of DNOW. Amalgamated Bank raised its position in shares of DNOW by 3.4% in the third quarter. Amalgamated Bank now owns 31,215 shares of the oil and gas company’s stock valued at $476,000 after buying an additional 1,040 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in DNOW by 1.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 82,817 shares of the oil and gas company’s stock valued at $1,263,000 after acquiring an additional 1,392 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of DNOW by 190.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,423 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 1,589 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of DNOW by 7.0% in the second quarter. Quantinno Capital Management LP now owns 24,858 shares of the oil and gas company’s stock valued at $369,000 after purchasing an additional 1,634 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in DNOW by 7.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,104 shares of the oil and gas company’s stock valued at $402,000 after purchasing an additional 1,821 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DNOW has been the subject of several recent analyst reports. Wall Street Zen upgraded DNOW from a “buy” rating to a “strong-buy” rating in a report on Saturday. KeyCorp set a $19.00 target price on shares of DNOW in a report on Thursday, December 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $18.00 price target on shares of DNOW in a research note on Monday, November 24th. Zacks Research upgraded shares of DNOW from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 1st. Finally, Susquehanna upgraded DNOW from a “neutral” rating to a “positive” rating and set a $16.00 price objective for the company in a report on Friday, November 21st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $17.67.

DNOW Stock Up 1.8%

DNOW opened at $16.45 on Friday. DNOW Inc. has a 52-week low of $12.01 and a 52-week high of $17.83. The company has a 50 day moving average of $14.42 and a two-hundred day moving average of $14.62. The company has a market cap of $1.73 billion, a P/E ratio of 18.90 and a beta of 0.79.

DNOW Profile

DistributionNOW (NYSE: DNOW) is a global distributor of energy and industrial products, serving a broad range of end-markets including oil and gas, petrochemical, power generation, and industrial manufacturing. Headquartered in Houston, Texas, the company provides solutions across the life cycle of energy and industrial assets, with an emphasis on safety, reliability and operational efficiency.

The company’s core product portfolio includes piping systems and related components (such as valves, fittings, flanges and gaskets), instrumentation, electrical and automation equipment, fasteners, industrial safety supplies, chemicals and composite products.