Ellsworth Advisors LLC Makes New $6.42 Million Investment in Core & Main, Inc. $CNM

Key Points

• Ellsworth Advisors LLC acquired 154,690 Core & Main shares in the third quarter, worth approximately $6.42 million and representing about 0.08% of the company. Institutional investors collectively own 94.19% of CNM.
• Analyst sentiment is mixed: seven analysts rate CNM a Buy, five rate it Hold and one rates it Sell, producing a consensus Hold rating and average price target of $54.40.
• Core & Main reported quarterly EPS of $0.94, exceeding the $0.91 consensus estimate, while revenue rose 2.5% year over year to $2.15 billion. The stock opened at $41.77, near its 52-week low of $39.42.

Ellsworth Advisors LLC purchased a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 154,690 shares of the company's stock, valued at approximately $6,417,000. Ellsworth Advisors LLC owned approximately 0.08% of Core & Main as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CNM. Perpetual Ltd boosted its position in shares of Core & Main by 1.5% in the 3rd quarter. Perpetual Ltd now owns 239,677 shares of the company's stock worth $9,942,000 after buying an additional 3,642 shares in the last quarter. Diversified Management Inc. purchased a new position in Core & Main during the 3rd quarter valued at about $1,177,000. CX Institutional increased its holdings in Core & Main by 211,716.1% during the 3rd quarter. CX Institutional now owns 118,617 shares of the company's stock valued at $4,920,000 after acquiring an additional 118,561 shares in the last quarter. SkyView Investment Advisors LLC purchased a new position in Core & Main during the 2nd quarter valued at about $145,000. Finally, WINTON GROUP Ltd raised its position in Core & Main by 41.4% during the second quarter. WINTON GROUP Ltd now owns 46,061 shares of the company's stock worth $2,222,000 after acquiring an additional 13,482 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNM. William Blair began coverage on shares of Core & Main in a report on Thursday, July 23rd. They issued a "market perform" rating on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $53.00 price target on shares of Core & Main in a research report on Thursday, September 10th. Barclays dropped their price objective on shares of Core & Main from $62.00 to $61.00 and set an "overweight" rating for the company in a research note on Thursday, September 10th. Royal Bank Of Canada cut their price objective on Core & Main from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Finally, Truist Financial cut their price objective on Core & Main from $50.00 to $45.00 and set a "hold" rating for the company in a research report on Thursday, September 10th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $54.40.

Core & Main Stock Up 3.0%

CNM opened at $41.77 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.47 and a debt-to-equity ratio of 1.16. The firm has a market cap of $7.96 billion, a P/E ratio of 17.19, a PEG ratio of 1.70 and a beta of 0.91. Core & Main, Inc. has a 52 week low of $39.42 and a 52 week high of $59.66. The business's fifty day simple moving average is $43.02 and its 200 day simple moving average is $46.27.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, topping 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 firm 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 quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Core & Main, Inc. will post 3.00 EPS for the current fiscal year.

Core & Main Profile

Core & Main, Inc NYSE: CNM is a specialized distributor of infrastructure products serving the water, wastewater, storm drainage, fire protection and related utility markets. The company supplies products used to build, repair and maintain essential public and private infrastructure across the United States.

Its product portfolio includes ductile iron and plastic pipe, valves, hydrants, water meters, fittings, and other waterworks components. Core & Main also distributes stormwater drainage products, fire protection equipment and related solutions.

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