SG Americas Securities LLC Sells 34,083 Shares of Core & Main, Inc. (NYSE:CNM)

SG Americas Securities LLC reduced its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 86.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,332 shares of the company’s stock after selling 34,083 shares during the quarter. SG Americas Securities LLC’s holdings in Core & Main were worth $237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC acquired a new position in Core & Main during the first quarter worth $38,000. Brown Brothers Harriman & Co. acquired a new position in shares of Core & Main during the 2nd quarter worth about $76,000. CWM LLC boosted its stake 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 buying an additional 334 shares during the last quarter. Headlands Technologies LLC grew its stake in Core & Main by 50.4% in the first quarter. Headlands Technologies LLC now owns 3,534 shares of the company’s stock valued at $202,000 after purchasing an additional 1,184 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Core & Main in the first quarter valued at $207,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Trading Down 1.3 %

Shares of Core & Main stock opened at $46.10 on Tuesday. 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 firm has a 50-day moving average of $45.30 and a 200-day moving average of $50.75. Core & Main, Inc. has a 52-week low of $29.13 and a 52-week high of $62.15. The stock has a market cap of $9.29 billion, a PE ratio of 21.54, a PEG ratio of 2.83 and a beta of 1.02.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CNM shares. Barclays cut their target price on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Loop Capital decreased their target price on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. cut their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Robert W. Baird lifted their price objective on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Bank of America dropped their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.