Lazard Asset Management LLC Takes Position in Core & Main, Inc. (NYSE:CNM)

Lazard Asset Management LLC purchased a new position in shares of Core & Main, Inc. (NYSE:CNMGet Rating) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,827 shares of the company’s stock, valued at approximately $107,000.

Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. lifted its position in shares of Core & Main by 155.2% during the 2nd quarter. Assetmark Inc. now owns 1,613 shares of the company’s stock worth $36,000 after buying an additional 981 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Core & Main during the first quarter valued at approximately $58,000. NN Investment Partners Holdings N.V. bought a new stake in Core & Main during the first quarter worth $102,000. Islay Capital Management LLC boosted its position in Core & Main by 18.6% in the second quarter. Islay Capital Management LLC now owns 4,901 shares of the company’s stock worth $109,000 after purchasing an additional 770 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in Core & Main in the 2nd quarter valued at $134,000. 94.93% of the stock is owned by institutional investors.

Insider Activity at Core & Main

In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 11,000,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $23.53, for a total value of $258,830,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 11,000,000 shares of the firm’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $23.53, for a total value of $258,830,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 19,729 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $24.78, for a total transaction of $488,884.62. Following the transaction, the general counsel now owns 5,286 shares of the company’s stock, valued at $130,987.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,053,062 shares of company stock worth $260,154,876. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

CNM has been the topic of a number of recent analyst reports. Truist Financial lifted their target price on Core & Main from $25.00 to $28.00 and gave the stock a “hold” rating in a research note on Wednesday, September 14th. The Goldman Sachs Group lifted their price objective on shares of Core & Main from $26.00 to $29.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 14th. Robert W. Baird increased their target price on shares of Core & Main from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, September 14th. Credit Suisse Group raised their price target on shares of Core & Main from $29.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 14th. Finally, Royal Bank of Canada upped their price objective on Core & Main from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, September 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Core & Main has a consensus rating of “Hold” and a consensus price target of $29.44.

Core & Main Stock Performance

Shares of CNM stock opened at $21.72 on Wednesday. The firm’s 50 day moving average is $22.46 and its 200 day moving average is $22.85. The stock has a market capitalization of $5.34 billion, a P/E ratio of 11.52, a PEG ratio of 0.79 and a beta of 0.90. Core & Main, Inc. has a 12 month low of $19.85 and a 12 month high of $32.54. The company has a current ratio of 2.28, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74.

Core & Main (NYSE:CNMGet Rating) last issued its earnings results on Tuesday, September 13th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.36. Core & Main had a net margin of 5.13% and a return on equity of 23.39%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 43.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Core & Main, Inc. will post 1.94 earnings per share for the current year.

Core & Main Company Profile

(Get Rating)

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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.

Featured Articles

Want to see what other hedge funds are holding CNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Core & Main, Inc. (NYSE:CNMGet Rating).

Institutional Ownership by Quarter for Core & Main (NYSE:CNM)

Receive News & Ratings for Core & Main Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core & Main and related companies with MarketBeat.com's FREE daily email newsletter.