ORG Wealth Partners LLC Invests $31,000 in Core & Main, Inc. (NYSE:CNM)

ORG Wealth Partners LLC acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 688 shares of the company’s stock, valued at approximately $31,000.

Several other large investors have also recently made changes to their positions in CNM. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Core & Main in the 4th quarter valued at about $1,414,000. American International Group Inc. lifted its position in Core & Main by 20,185.1% during 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 period. Wellington Management Group LLP boosted its stake in Core & Main by 486.6% during the fourth quarter. Wellington Management Group LLP now owns 350,547 shares of the company’s stock worth $14,166,000 after acquiring an additional 290,792 shares in the last quarter. Vanguard Group Inc. grew its holdings in Core & Main by 41.4% in the fourth quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock worth $542,201,000 after purchasing an additional 3,926,588 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of Core & Main during the fourth quarter valued at approximately $2,431,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Performance

Shares of CNM opened at $45.22 on Wednesday. Core & Main, Inc. has a one year low of $29.13 and a one year high of $62.15. The business has a fifty day moving average of $45.48 and a 200 day moving average of $51.08. 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 firm has a market capitalization of $9.11 billion, a P/E ratio of 21.13, a PEG ratio of 2.83 and a beta of 1.02.

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

Analyst Upgrades and Downgrades

CNM has been the topic of several recent research reports. The Goldman Sachs Group cut their price target on Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Bank of America reduced 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 note on Thursday, September 5th. Loop Capital cut their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Truist Financial decreased their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. One research 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.50.

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.