Raymond James & Associates lifted its position in Core & Main, Inc. (NYSE:CNM – Free Report) by 3.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 582,748 shares of the company’s stock after buying an additional 17,353 shares during the period. Raymond James & Associates owned approximately 0.25% of Core & Main worth $18,263,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Core & Main by 4,598.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 323,901 shares of the company’s stock worth $10,151,000 after acquiring an additional 317,007 shares in the last quarter. Jump Financial LLC boosted its holdings in Core & Main by 17.0% during the first quarter. Jump Financial LLC now owns 121,573 shares of the company’s stock worth $2,808,000 after buying an additional 17,689 shares in the last quarter. Victory Capital Management Inc. grew its position in Core & Main by 46.7% in the first quarter. Victory Capital Management Inc. now owns 5,861,843 shares of the company’s stock worth $135,409,000 after buying an additional 1,866,639 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of Core & Main by 75.7% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 27,989 shares of the company’s stock valued at $647,000 after acquiring an additional 12,056 shares during the last quarter. Finally, Clear Harbor Asset Management LLC grew its holdings in shares of Core & Main by 8.5% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 228,793 shares of the company’s stock worth $7,170,000 after acquiring an additional 17,907 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on CNM shares. Citigroup increased their price target on Core & Main from $29.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, July 14th. Royal Bank of Canada restated an “outperform” rating and set a $34.00 price target on shares of Core & Main in a report on Thursday, October 5th. Robert W. Baird raised their price objective on shares of Core & Main from $34.00 to $38.00 in a research note on Thursday, September 7th. Credit Suisse Group boosted their target price on shares of Core & Main from $28.00 to $33.00 in a research note on Thursday, September 7th. Finally, Barclays increased their target price on Core & Main from $37.00 to $38.00 in a report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $36.55.
Core & Main Stock Performance
Shares of NYSE CNM opened at $31.46 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.59 and a quick ratio of 1.53. Core & Main, Inc. has a one year low of $18.75 and a one year high of $33.32. The business’s 50-day moving average price is $30.54 and its two-hundred day moving average price is $28.83. The company has a market capitalization of $7.12 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96.
Core & Main (NYSE:CNM – Get Free Report) last announced its quarterly earnings results on Wednesday, September 6th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.01). Core & Main had a net margin of 5.45% and a return on equity of 15.75%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Analysts anticipate that Core & Main, Inc. will post 1.87 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, VP John Weldon Stephens sold 11,800 shares of Core & Main stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $31.04, for a total value of $366,272.00. Following the completion of the sale, the vice president now owns 3,468 shares of the company’s stock, valued at approximately $107,646.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP John Weldon Stephens sold 11,800 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $31.04, for a total transaction of $366,272.00. Following the transaction, the vice president now owns 3,468 shares of the company’s stock, valued at approximately $107,646.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James G. Castellano sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $28.35, for a total value of $354,375.00. Following the completion of the sale, the director now owns 9,320 shares of the company’s stock, valued at $264,222. The disclosure for this sale can be found here. Insiders sold 21,210,028 shares of company stock valued at $615,316,016 over the last ninety days. Corporate insiders own 3.49% of the company’s stock.
Core & Main Company 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 accessories, installation, software, and other services.
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