Raymond James & Associates Grows Position in Core & Main, Inc. (NYSE:CNM)

Raymond James & Associates lifted its holdings in shares of Core & Main, Inc. (NYSE:CNMGet Rating) by 10.3% in the third quarter, HoldingsChannel.com reports. The firm owned 622,340 shares of the company’s stock after acquiring an additional 58,329 shares during the quarter. Raymond James & Associates’ holdings in Core & Main were worth $14,152,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Select Equity Group L.P. grew its holdings in shares of Core & Main by 35.0% during the 1st quarter. Select Equity Group L.P. now owns 11,639,083 shares of the company’s stock worth $281,549,000 after purchasing an additional 3,018,351 shares during the period. Vanguard Group Inc. grew its holdings in shares of Core & Main by 58.6% during the 1st quarter. Vanguard Group Inc. now owns 4,472,479 shares of the company’s stock worth $108,189,000 after purchasing an additional 1,652,035 shares during the period. Robeco Schweiz AG boosted its holdings in Core & Main by 15.5% during the 2nd quarter. Robeco Schweiz AG now owns 2,480,878 shares of the company’s stock valued at $55,324,000 after acquiring an additional 333,278 shares during the period. BlackRock Inc. boosted its holdings in Core & Main by 55.9% during the 1st quarter. BlackRock Inc. now owns 2,148,449 shares of the company’s stock valued at $51,972,000 after acquiring an additional 770,677 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Core & Main by 35.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,985,762 shares of the company’s stock valued at $44,283,000 after acquiring an additional 520,306 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Price Performance

CNM stock opened at $20.55 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.49 and a quick ratio of 1.32. Core & Main, Inc. has a 1 year low of $18.75 and a 1 year high of $26.63. The firm has a market capitalization of $5.05 billion, a P/E ratio of 9.79, a P/E/G ratio of 0.51 and a beta of 0.75. The business’s 50-day moving average is $20.45 and its two-hundred day moving average is $22.22.

Core & Main (NYSE:CNMGet Rating) last issued its earnings results on Tuesday, December 13th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. Core & Main had a return on equity of 22.01% and a net margin of 5.52%. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada raised their target price on Core & Main from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, December 14th. Credit Suisse Group lowered their target price on Core & Main from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, December 15th. The Goldman Sachs Group lowered their target price on Core & Main from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, December 15th. Citigroup lowered their target price on Core & Main from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, December 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Core & Main from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.89.

Core & Main 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.

See Also

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.