Truist Financial Corp Sells 39,211 Shares of NOW Inc. (NYSE:DNOW)

Truist Monetary Corp trimmed its stake in shares of NOW Inc. (NYSE:DNOW) by 64.1% for the duration of the 3rd quarter, HoldingsChannel.com studies. The agency owned 21,954 shares of the oil and gas company’s inventory right after advertising 39,211 shares all through the quarter. Truist Economical Corp’s holdings in NOW were well worth $100,000 as of its most current filing with the SEC.

Quite a few other substantial investors also not too long ago added to or decreased their stakes in DNOW. Macquarie Group Ltd. ordered a new stake in NOW through the 2nd quarter valued at about $25,000. Glenmede Rely on Co. NA lifted its holdings in NOW by 358.3% in the 2nd quarter. Glenmede Trust Co. NA now owns 3,089 shares of the oil and gas company’s inventory worthy of $26,000 after obtaining an additional 2,415 shares through the time period. Guggenheim Cash LLC lifted its holdings in NOW by 109.4% in the 3rd quarter. Guggenheim Cash LLC now owns 21,730 shares of the oil and gas company’s inventory well worth $99,000 soon after obtaining an more 11,352 shares throughout the period. Magnus Economical Team LLC procured a new place in shares of NOW in the 2nd quarter valued at approximately $108,000. Last but not least, Financial institution of Montreal Can lifted its stake in shares of NOW by 359.6% in the 2nd quarter. Bank of Montreal Can now owns 14,170 shares of the oil and fuel company’s stock valued at $113,000 following acquiring an further 11,087 shares throughout the time period. Institutional buyers very own 93.49% of the company’s inventory.

Shares of NOW inventory opened at $6.85 on Friday. The stock’s 50-day basic going average is $5.95 and its 200-working day straightforward transferring typical is $6.82. NOW Inc. has a 52 week lower of $4.03 and a 52 7 days high of $11.91. The business has a current market capitalization of $749.25 million, a rate-to-earnings ratio of -1.44 and a beta of 2.11.

NOW (NYSE:DNOW) last issued its earnings success on Wednesday, November 4th. The oil and fuel business described ($.16) earnings for each share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($.23) by $.07. NOW experienced a adverse return on fairness of 5.78% and a unfavorable web margin of 26.92%. The business had profits of $326.00 million for the quarter, in contrast to analysts’ expectations of $318.28 million. In the course of the similar interval in the past calendar year, the company posted $.08 earnings per share. The business’s profits was down 56.6% in contrast to the very same quarter last year. Analysts forecast that NOW Inc. will write-up -.62 earnings per share for the current yr.

DNOW has been the subject matter of a variety of analyst experiences. BidaskClub elevated NOW from a “sell” rating to a “hold” ranking in a investigate report on Wednesday. Zacks Financial commitment Exploration downgraded NOW from a “buy” rating to a “hold” ranking in a exploration notice on Thursday, December 17th. Finally, Stephens initiated coverage on NOW in a research be aware on Thursday, Oct 15th. They issued an “equal weight” score on the inventory. A few analysts have rated the inventory with a maintain score and 4 have offered a acquire ranking to the stock. The inventory presently has a consensus rating of “Buy” and a consensus focus on price tag of $9.50.

About NOW

NOW Inc distributes downstream electricity and industrial products for petroleum refining, chemical processing, LNG terminals, electric power era utilities, and industrial production functions in the United States, Canada, and internationally. The business presents its items underneath the DistributionNOW and DNOW brand names.

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