Core & Main, Inc. (NYSE:CNM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 55.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,929 shares of the company’s stock after selling 285,230 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Core & Main worth $10,209,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main in the third quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main during the third quarter worth $31,000. GAMMA Investing LLC grew its holdings in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Core & Main in the 2nd quarter worth $76,000. Finally, CWM LLC raised its holdings in shares of Core & Main by 25.6% during the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after acquiring an additional 334 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America cut their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Robert W. Baird lifted their price target on shares of Core & Main from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Barclays lowered their price objective on Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. reduced their target price on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company started coverage on Core & Main in a report on Monday, September 23rd. They set an “overweight” rating and a $52.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.20.

Core & Main Stock Performance

Shares of Core & Main stock opened at $55.78 on Wednesday. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.14 and a beta of 1.04. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The business has a 50-day moving average of $44.80 and a 200 day moving average of $48.09. Core & Main, Inc. has a 12 month low of $35.03 and a 12 month high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Core & Main 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.