Core & Main, Inc. (NYSE:CNM) Shares Acquired by Assetmark Inc.

Assetmark Inc. lifted its stake in shares of Core & Main, Inc. (NYSE:CNMGet Rating) by 33.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,158 shares of the company’s stock after purchasing an additional 545 shares during the quarter. Assetmark Inc.’s holdings in Core & Main were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CNM. National Bank of Canada FI acquired a new position in shares of Core & Main in the 3rd quarter valued at about $28,000. MetLife Investment Management LLC acquired a new position in shares of Core & Main in the 1st quarter valued at about $58,000. Lazard Asset Management LLC acquired a new position in shares of Core & Main in the 2nd quarter valued at about $107,000. Islay Capital Management LLC lifted its holdings in shares of Core & Main by 18.6% in the 2nd quarter. Islay Capital Management LLC now owns 4,901 shares of the company’s stock valued at $109,000 after buying an additional 770 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of Core & Main in the 2nd quarter valued at about $134,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Price Performance

NYSE:CNM opened at $20.87 on Monday. Core & Main, Inc. has a 12 month low of $18.75 and a 12 month high of $26.63. The stock has a 50 day moving average of $20.45 and a two-hundred day moving average of $22.16. The company has a current ratio of 2.49, a quick ratio of 1.32 and a debt-to-equity ratio of 0.65. The firm has a market cap of $5.13 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 0.52 and a beta of 0.75.

Core & Main (NYSE:CNMGet Rating) last posted its quarterly earnings data on Tuesday, December 13th. The company reported $0.65 EPS 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 company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. On average, analysts expect that Core & Main, Inc. will post 2.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNM. Royal Bank of Canada boosted their price objective 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 reduced their price target 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 reduced their price target on Core & Main from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, December 15th. Deutsche Bank Aktiengesellschaft reduced their price target on Core & Main from $41.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, January 10th. Finally, Citigroup reduced their price target on Core & Main from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, December 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.22.

Core & Main Company Profile

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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.

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

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