Royal London Asset Management Ltd. increased its stake in shares of Core & Main, Inc. (NYSE:CNM – Free Report) by 39.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,761,906 shares of the company’s stock after purchasing an additional 1,073,451 shares during the period. Royal London Asset Management Ltd. owned 1.87% of Core & Main worth $167,029,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main in the 3rd quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Core & Main in the 3rd quarter valued at about $31,000. GAMMA Investing LLC raised its holdings in shares of Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after acquiring an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Core & Main in the 2nd quarter valued at about $76,000. Finally, CWM LLC raised its holdings in shares of Core & Main by 25.6% in the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after acquiring an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.
Analyst Ratings Changes
Several research firms have weighed in on CNM. Robert W. Baird raised their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial raised their price objective on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday. Bank of America decreased their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. The Goldman Sachs Group decreased their price objective on Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Finally, Wells Fargo & Company assumed coverage on Core & Main in a report on Monday, September 23rd. They set an “overweight” rating and a $52.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.30.
Core & Main Price Performance
Shares of CNM stock opened at $55.26 on Thursday. The firm has a market cap of $11.11 billion, a P/E ratio of 26.44, a P/E/G ratio of 3.14 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $62.15. The business’s 50 day moving average price is $45.03 and its 200-day moving average price is $48.06. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29.
Core & Main (NYSE:CNM – Get Free Report) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. On average, equities research analysts anticipate that Core & Main, Inc. will post 2.1 earnings per share for the current year.
About Core & Main
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.
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