Quest Partners LLC Has $531,000 Position in Core & Main, Inc. (NYSE:CNM)

Quest Partners LLC grew its holdings in Core & Main, Inc. (NYSE:CNM) by 1,195,600.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,957 shares of the company’s stock after buying an additional 11,956 shares during the quarter. Quest Partners LLC’s holdings in Core & Main were worth $531,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in Core & Main by 6.0% in the third quarter. Thrivent Financial for Lutherans now owns 109,225 shares of the company’s stock worth $4,849,000 after purchasing an additional 6,227 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Core & Main by 6.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 104,262 shares of the company’s stock valued at $4,629,000 after purchasing an additional 6,347 shares during the period. South Street Advisors LLC raised its holdings in shares of Core & Main by 36.0% in the 3rd quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock worth $10,396,000 after buying an additional 61,962 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Core & Main by 10.8% during the 3rd quarter. Empowered Funds LLC now owns 100,681 shares of the company’s stock worth $4,470,000 after buying an additional 9,848 shares during the period. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in Core & Main by 10.4% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 8,086 shares of the company’s stock valued at $359,000 after buying an additional 761 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Core & Main Trading Up 1.6 %

CNM stock opened at $45.27 on Friday. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. Core & Main, Inc. has a twelve month low of $34.02 and a twelve month high of $62.15. The company has a market cap of $9.11 billion, a P/E ratio of 21.66, a PEG ratio of 2.90 and a beta of 1.02. The business has a fifty day moving average of $44.27 and a 200-day moving average of $48.70.

Core & Main (NYSE:CNM) last released its earnings results 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 for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that Core & Main, Inc. will post 2.1 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on CNM. Truist Financial dropped their price objective on Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. The Goldman Sachs Group cut their price target on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Barclays decreased their price objective on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Loop Capital cut their target price on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, Royal Bank of Canada decreased their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.20.

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.