VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in Core & Main, Inc. (NYSE:CNM – Free Report) by 59.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,650 shares of the company’s stock after selling 54,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Core & Main were worth $1,562,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in CNM. Root Financial Partners LLC lifted its stake in shares of Core & Main by 111.6% during the first quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock worth $44,000 after purchasing an additional 472 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Core & Main by 142.7% in the third quarter. IFP Advisors Inc now owns 1,296 shares of the company’s stock worth $54,000 after buying an additional 762 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Core & Main by 42.9% in the third quarter. Nisa Investment Advisors LLC now owns 1,615 shares of the company’s stock worth $67,000 after buying an additional 485 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Core & Main by 42.3% in the first quarter. EverSource Wealth Advisors LLC now owns 2,389 shares of the company’s stock valued at $118,000 after buying an additional 710 shares in the last quarter. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Core & Main in the second quarter valued at about $145,000. 94.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
CNM has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Core & Main from $65.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, September 10th. The Goldman Sachs Group restated a “neutral” rating and issued a $53.00 price target on shares of Core & Main in a report on Thursday, September 10th. Zacks Research cut Core & Main from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. Wolfe Research initiated coverage on shares of Core & Main in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $63.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of Core & Main in a research note on Wednesday. They set a “buy” rating and a $53.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.27.
Read Our Latest Stock Report on Core & Main
Core & Main Trading Up 8.5%
CNM opened at $48.67 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.47 and a quick ratio of 1.51. Core & Main, Inc. has a 12-month low of $39.42 and a 12-month high of $59.66. The firm’s fifty day moving average price is $42.38 and its 200 day moving average price is $47.85. The stock has a market capitalization of $9.27 billion, a PE ratio of 20.03, a P/E/G ratio of 1.88 and a beta of 0.91.
Core & Main (NYSE:CNM – Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same period last year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, research analysts expect that Core & Main, Inc. will post 3.00 EPS for the current fiscal year.
About Core & Main
Core & Main, Inc is a distributor of specialized products for public and private infrastructure in the United States. The company primarily serves municipalities, contractors, and other customers involved in water, wastewater, storm drainage, and fire protection projects.
Its product offerings include water, sewer, and storm drainage pipe; valves, hydrants, and related waterworks products; fire protection equipment; and geosynthetic and other stormwater management products. Core & Main also provides product expertise, technical support, and related services to help customers plan and complete infrastructure projects.
The company traces its roots to the waterworks distribution business formerly operated by HD Supply.
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