Core & Main, Inc. (NYSE:CNM) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in Core & Main, Inc. (NYSE:CNM) by 61.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,348 shares of the company’s stock after acquiring an additional 511 shares during the quarter. GAMMA Investing LLC’s holdings in Core & Main were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in Core & Main by 1.9% during the 2nd quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock worth $595,000 after buying an additional 228 shares during the last quarter. United Services Automobile Association boosted its holdings in Core & Main by 2.0% in the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock worth $651,000 after purchasing an additional 266 shares during the period. CWM LLC increased its stake in Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after purchasing an additional 334 shares during the last quarter. Lisanti Capital Growth LLC raised its holdings in shares of Core & Main by 0.3% during the first quarter. Lisanti Capital Growth LLC now owns 157,865 shares of the company’s stock worth $9,038,000 after purchasing an additional 395 shares during the period. Finally, Rise Advisors LLC bought a new position in shares of Core & Main in the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Up 2.5 %

NYSE CNM opened at $46.35 on Thursday. Core & Main, Inc. has a 12 month low of $29.13 and a 12 month high of $62.15. The company has a market capitalization of $9.34 billion, a P/E ratio of 21.66, a PEG ratio of 2.83 and a beta of 1.02. The company’s 50 day simple moving average is $45.47 and its 200 day simple moving average is $51.05. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS 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 net margin of 5.58% and a return on equity of 21.91%. Core & Main’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. Equities research analysts expect that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CNM. Royal Bank of Canada lowered their target price on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. dropped 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. Barclays reduced their price target 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. The Goldman Sachs Group dropped their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Loop Capital cut their price objective on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.