Nuveen Asset Management LLC Has $20.66 Million Position in NOW Inc. (NYSE:DNOW)

Posted by on Mar 4th, 2023

Nuveen Asset Management LLC grew its stake in NOW Inc. (NYSE:DNOW – Get Rating) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,055,660 shares of the oil and gas company’s stock after purchasing an additional 19,004 shares during the period. Nuveen Asset Management LLC owned about 1.86% of NOW worth $20,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Penn Capital Management Company LLC raised its holdings in NOW by 1,333.9% in the 1st quarter. Penn Capital Management Company LLC now owns 1,209,936 shares of the oil and gas company’s stock valued at $11,708,000 after buying an additional 1,125,557 shares during the last quarter. Boston Partners bought a new position in NOW in the 3rd quarter valued at approximately $8,224,000. Vanguard Group Inc. raised its holdings in NOW by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 12,671,810 shares of the oil and gas company’s stock valued at $139,769,000 after buying an additional 412,591 shares during the last quarter. Renaissance Technologies LLC raised its holdings in NOW by 7.8% in the 2nd quarter. Renaissance Technologies LLC now owns 5,525,779 shares of the oil and gas company’s stock valued at $54,042,000 after buying an additional 398,800 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in NOW in the 2nd quarter valued at approximately $3,582,000. 95.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DNOW has been the subject of a number of research reports. Susquehanna raised their price objective on shares of NOW from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, February 17th. TheStreet upgraded shares of NOW from a “c+” rating to a “b-” rating in a report on Monday, December 12th. Finally, StockNews.com lowered shares of NOW from a “strong-buy” rating to a “buy” rating in a report on Friday, February 17th.

NOW Price Performance

DNOW opened at $13.48 on Friday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 11.93 and a beta of 1.61. The firm’s fifty day moving average price is $13.13 and its two-hundred day moving average price is $12.22. NOW Inc. has a 1 year low of $8.79 and a 1 year high of $14.86.

NOW (NYSE:DNOW – Get Rating) last announced its quarterly earnings data on Thursday, February 16th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. NOW had a return on equity of 13.49% and a net margin of 5.99%. The business had revenue of $547.00 million for the quarter, compared to analysts’ expectations of $530.77 million. During the same period in the previous year, the business posted $0.07 EPS. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities analysts anticipate that NOW Inc. will post 0.94 EPS for the current year.

NOW Profile

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NOW Inc is a holding company, which engages in the distribution of energy products for industrial applications. It operates through the following segments: United States, Canada, and International. The United States segment serves the upstream, midstream and downstream energy, and industrial markets.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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