Core & Main, Inc. (NYSE:CNM) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its position in shares of Core & Main, Inc. (NYSE:CNM) by 36.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,595 shares of the company’s stock after selling 10,070 shares during the quarter. Glenmede Trust Co. NA’s holdings in Core & Main were worth $781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thematics Asset Management increased its stake in Core & Main by 15.5% in the 3rd quarter. Thematics Asset Management now owns 484,000 shares of the company’s stock valued at $21,490,000 after purchasing an additional 65,000 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Core & Main in the third quarter worth approximately $4,134,000. FMR LLC boosted its holdings in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after purchasing an additional 1,903,280 shares during the last quarter. CDAM UK Ltd boosted its holdings in Core & Main by 84.9% in the third quarter. CDAM UK Ltd now owns 1,276,796 shares of the company’s stock valued at $56,690,000 after acquiring an additional 586,081 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC grew its holdings in shares of Core & Main by 23.3% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock worth $3,120,000 after purchasing an additional 13,263 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of CNM opened at $55.78 on Wednesday. Core & Main, Inc. has a 52 week low of $35.03 and a 52 week high of $62.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. The company has a market capitalization of $11.22 billion, a PE ratio of 26.69, a PEG ratio of 3.14 and a beta of 1.04. The company’s 50 day moving average price is $44.80 and its 200 day moving average price is $48.09.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts expect that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on shares of Core & Main in a research report on Monday, September 23rd. They set an “overweight” rating and a $52.00 price target for the company. Robert W. Baird raised their price objective on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial dropped their target price on Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Loop Capital cut their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Finally, Barclays reduced their target price on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

About Core & Main

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.