Legal & General Group Plc Buys 7,713 Shares of NOW Inc (NYSE:DNOW)

Legal & General Group Plc grew its stake in shares of NOW Inc (NYSE:DNOW) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 185,307 shares of the oil and gas company’s stock after purchasing an additional 7,713 shares during the quarter. Legal & General Group Plc owned approximately 0.17% of NOW worth $2,157,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DNOW. PNC Financial Services Group Inc. raised its position in shares of NOW by 267.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 21,465 shares of the oil and gas company’s stock worth $355,000 after acquiring an additional 15,624 shares in the last quarter. BlackRock Inc. increased its holdings in shares of NOW by 1.2% in the third quarter. BlackRock Inc. now owns 11,882,925 shares of the oil and gas company’s stock valued at $196,662,000 after purchasing an additional 141,825 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NOW in the third quarter worth about $493,000. Tower Research Capital LLC TRC boosted its stake in shares of NOW by 342.5% in the third quarter. Tower Research Capital LLC TRC now owns 12,816 shares of the oil and gas company’s stock worth $212,000 after buying an additional 9,920 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of NOW by 91.3% in the third quarter. JPMorgan Chase & Co. now owns 670,933 shares of the oil and gas company’s stock worth $11,103,000 after buying an additional 320,212 shares during the last quarter.

Shares of NYSE:DNOW traded up $0.19 during midday trading on Friday, hitting $14.24. The company had a trading volume of 546,854 shares, compared to its average volume of 562,008. NOW Inc has a twelve month low of $10.36 and a twelve month high of $18.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.30 and a current ratio of 2.64. The stock has a market cap of $1.55 billion, a PE ratio of 39.56 and a beta of 1.40.

NOW (NYSE:DNOW) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. NOW had a return on equity of 4.19% and a net margin of 2.16%. The firm had revenue of $785.00 million during the quarter, compared to analysts’ expectations of $772.54 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, analysts predict that NOW Inc will post 0.42 earnings per share for the current fiscal year.

Separately, Zacks Investment Research downgraded NOW from a “buy” rating to a “hold” rating in a research note on Friday, January 18th. Seven analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $15.40.

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NOW Profile

NOW Inc distributes energy and industrial products in the United States, Canada, and internationally. It offers consumable maintenance, repair, and operating supplies; and pipes, valves, fittings, flanges, gaskets, fasteners, electrical products, 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 applied products and applications, such as artificial lift systems, coatings, and other expendable items.

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Institutional Ownership by Quarter for NOW (NYSE:DNOW)

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