Core & Main, Inc. (NYSE:CNM) Holdings Cut by Commerce Bank

Commerce Bank reduced its stake in shares of Core & Main, Inc. (NYSE:CNM) by 78.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,364 shares of the company’s stock after selling 49,305 shares during the period. Commerce Bank’s holdings in Core & Main were worth $593,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CNM. QRG Capital Management Inc. raised its stake in shares of 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 purchasing an additional 228 shares in the last quarter. United Services Automobile Association raised its position in Core & Main by 2.0% during the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock valued at $651,000 after acquiring an additional 266 shares in the last quarter. Andina Capital Management LLC lifted its stake in Core & Main by 3.5% in the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock valued at $387,000 after acquiring an additional 294 shares during the last quarter. CWM LLC grew its position in Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after acquiring an additional 334 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after purchasing an additional 511 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Trading Up 5.0 %

Shares of CNM opened at $47.55 on Tuesday. The stock’s 50-day moving average price is $44.40 and its 200 day moving average price is $48.54. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 2.95 and a beta of 1.02. Core & Main, Inc. has a 12-month low of $34.02 and a 12-month high of $62.15.

Core & Main (NYSE:CNM) last announced 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). The business had revenue of $1.96 billion during 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%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 EPS. As a group, research analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CNM shares. 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. Loop Capital lowered their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Barclays reduced their target price on Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada lowered their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.