24,677 Core & Main, Inc. $CNM Shares Sold by Robeco Schweiz AG

Key Points

• Robeco Schweiz AG cut its Core & Main stake by 3.5% in the third quarter, selling 24,677 shares and retaining 687,107 shares worth approximately $28.5 million. Institutional investors collectively own 94.19% of the company.
• Core & Main reported quarterly EPS of $0.94, beating estimates of $0.91, while revenue rose 2.5% year over year to $2.15 billion. The stock opened at $41.92, near its 52-week low of $39.42.
• Analyst sentiment is mixed but leans positive, with seven Buy, five Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $54.40.

Robeco Schweiz AG reduced its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 687,107 shares of the company's stock after selling 24,677 shares during the period. Robeco Schweiz AG owned 0.36% of Core & Main worth $28,501,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CNM. California State Teachers Retirement System lifted its holdings in Core & Main by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 219,934 shares of the company's stock worth $10,865,000 after buying an additional 40,050 shares during the period. KBC Group NV grew its position in shares of Core & Main by 4.5% in the 1st quarter. KBC Group NV now owns 2,737,992 shares of the company's stock worth $135,257,000 after buying an additional 119,076 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Core & Main by 52.5% in the 2nd quarter. Wellington Management Group LLP now owns 251,724 shares of the company's stock worth $12,146,000 after buying an additional 86,672 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Core & Main in the 2nd quarter worth approximately $4,461,000. Finally, Bornite Capital Management LP purchased a new position in shares of Core & Main during the second quarter valued at approximately $36,622,000. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Down 1.0%

CNM stock opened at $41.92 on Friday. Core & Main, Inc. has a fifty-two week low of $39.42 and a fifty-two week high of $59.66. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 17.25, a price-to-earnings-growth ratio of 1.76 and a beta of 0.91. The business's 50 day moving average price is $42.48 and its two-hundred day moving average price is $45.95. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.47.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.03. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. The company had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter last year, the business posted $0.87 EPS. The firm's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts forecast that Core & Main, Inc. will post 3.00 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNM. Deutsche Bank Aktiengesellschaft set a $55.00 target price on Core & Main in a report on Thursday, September 10th. Robert W. Baird cut their price target on shares of Core & Main from $66.00 to $57.00 and set an "outperform" rating on the stock in a report on Thursday, September 10th. Royal Bank Of Canada reduced their price objective on shares of Core & Main from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 7th. The Goldman Sachs Group reissued a "neutral" rating and set a $53.00 price objective on shares of Core & Main in a research report on Thursday, September 10th. Finally, William Blair assumed coverage on shares of Core & Main in a report on Thursday, July 23rd. They issued a "market perform" rating for the company. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $54.40.

About Core & Main

Core & Main, Inc is a distributor of specialized products for public and private infrastructure in the United States. The company primarily serves municipalities, contractors, and other customers involved in water, wastewater, storm drainage, and fire protection projects.

Its product offerings include water, sewer, and storm drainage pipe; valves, hydrants, and related waterworks products; fire protection equipment; and geosynthetic and other stormwater management products. Core & Main also provides product expertise, technical support, and related services to help customers plan and complete infrastructure projects.

The company traces its roots to the waterworks distribution business formerly operated by HD Supply.

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