DNOW Inc. $DNOW Stock Holdings Lifted by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its position in DNOW Inc. (NYSE:DNOW) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 482,382 shares of the oil and gas company’s stock after purchasing an additional 52,252 shares during the period. Public Sector Pension Investment Board’s holdings in DNOW were worth $7,356,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of DNOW by 470.7% in the 2nd quarter. First Trust Advisors LP now owns 1,952,023 shares of the oil and gas company’s stock valued at $28,949,000 after buying an additional 1,609,981 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in DNOW by 57.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,797,651 shares of the oil and gas company’s stock worth $26,659,000 after acquiring an additional 654,490 shares in the last quarter. LSV Asset Management increased its stake in shares of DNOW by 354.6% during the 2nd quarter. LSV Asset Management now owns 798,300 shares of the oil and gas company’s stock worth $11,839,000 after purchasing an additional 622,705 shares during the last quarter. American Century Companies Inc. increased its stake in shares of DNOW by 19.3% during the 2nd quarter. American Century Companies Inc. now owns 2,389,433 shares of the oil and gas company’s stock worth $35,435,000 after purchasing an additional 386,383 shares during the last quarter. Finally, CSM Advisors LLC bought a new position in shares of DNOW during the 2nd quarter valued at $4,771,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

DNOW Stock Down 1.9%

DNOW opened at $16.12 on Wednesday. The stock’s 50 day moving average price is $14.52 and its two-hundred day moving average price is $14.62. The firm has a market capitalization of $1.69 billion, a P/E ratio of 18.53 and a beta of 0.79. DNOW Inc. has a 12-month low of $12.01 and a 12-month high of $17.83.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of DNOW in a report on Monday, December 29th. Stifel Nicolaus reiterated a “buy” rating and set a $18.00 price target on shares of DNOW in a research note on Monday, November 24th. KeyCorp set a $19.00 price objective on DNOW in a research note on Thursday, December 18th. Wall Street Zen raised DNOW from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Zacks Research raised shares of DNOW from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, DNOW presently has an average rating of “Buy” and an average target price of $17.67.

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.