FCF Advisors LLC Cuts Position in Core & Main, Inc. (NYSE:CNM)

FCF Advisors LLC lessened its stake in Core & Main, Inc. (NYSE:CNM) by 50.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,969 shares of the company’s stock after selling 22,124 shares during the quarter. FCF Advisors LLC’s holdings in Core & Main were worth $975,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Crossmark Global Holdings Inc. grew its stake in Core & Main by 19.2% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,175 shares of the company’s stock valued at $1,179,000 after acquiring an additional 4,690 shares during the last quarter. American International Group Inc. grew its stake in Core & Main by 20,185.1% in the 4th quarter. American International Group Inc. now owns 184,594 shares of the company’s stock valued at $7,459,000 after acquiring an additional 183,684 shares during the last quarter. Verition Fund Management LLC grew its stake in Core & Main by 175.9% in the 4th quarter. Verition Fund Management LLC now owns 361,154 shares of the company’s stock valued at $14,594,000 after acquiring an additional 230,237 shares during the last quarter. Cullen Capital Management LLC acquired a new stake in Core & Main in the 4th quarter valued at about $471,000. Finally, Fiduciary Management Inc. WI grew its stake in Core & Main by 11.4% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,302,158 shares of the company’s stock valued at $93,030,000 after acquiring an additional 236,488 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In other Core & Main news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the transaction, the director now owns 11,769 shares of the company’s stock, valued at $614,577.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Truist Financial lowered their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. Bank of America decreased their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. The Goldman Sachs Group decreased their price target on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Royal Bank of Canada decreased their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Finally, Wells Fargo & Company started coverage on shares of Core & Main in a research note on Monday, September 23rd. They set an “overweight” rating and a $52.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.55.

Core & Main Stock Up 0.4 %

Shares of CNM stock traded up $0.15 during mid-day trading on Tuesday, reaching $42.53. 481,879 shares of the company were exchanged, compared to its average volume of 2,628,096. Core & Main, Inc. has a fifty-two week low of $29.13 and a fifty-two 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 $8.57 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.87 and a beta of 1.02. The business’s 50 day simple moving average is $46.22 and its 200 day simple moving average is $51.64.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. Research analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Core & Main declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.