Core & Main, Inc. (NYSE:CNM) Holdings Lifted by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 53.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 31,728 shares of the company’s stock after buying an additional 11,118 shares during the period. Cerity Partners LLC’s holdings in Core & Main were worth $1,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CNM. Comerica Bank lifted its position in Core & Main by 30.9% during the 1st quarter. Comerica Bank now owns 67,754 shares of the company’s stock worth $3,879,000 after buying an additional 16,009 shares in the last quarter. DNB Asset Management AS boosted its position in Core & Main by 14.2% in the 2nd quarter. DNB Asset Management AS now owns 44,989 shares of the company’s stock valued at $2,201,000 after buying an additional 5,594 shares during the last quarter. CWM LLC raised its position in shares of Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after acquiring an additional 334 shares during the last quarter. Renaissance Capital LLC boosted its holdings in Core & Main by 30.6% in the second quarter. Renaissance Capital LLC now owns 149,057 shares of the company’s stock valued at $7,295,000 after acquiring an additional 34,904 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Core & Main by 1.9% in the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock worth $595,000 after purchasing an additional 228 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNM has been the subject of a number of recent analyst reports. Loop Capital lowered their price objective on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Truist Financial reduced their price target on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada dropped their price objective on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. reduced their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, The Goldman Sachs Group reduced their price objective on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Core & Main Stock Up 15.5 %

Core & Main stock opened at $55.78 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $11.22 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.14 and a beta of 1.04. The firm has a 50 day moving average price of $44.80 and a 200-day moving average price of $48.09. Core & Main, Inc. has a twelve month low of $35.03 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. As a group, equities analysts predict that Core & Main, Inc. will post 2.1 EPS for the current year.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.