DekaBank Deutsche Girozentrale boosted its holdings in shares of Core & Main, Inc. (NYSE:CNM - Get Rating) by 500.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,000 shares of the company's stock after purchasing an additional 50,000 shares during the period. DekaBank Deutsche Girozentrale's holdings in Core & Main were worth $1,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNM. National Bank of Canada FI purchased a new position in Core & Main in the third quarter valued at $28,000. Assetmark Inc. increased its holdings in Core & Main by 155.2% in the second quarter. Assetmark Inc. now owns 1,613 shares of the company's stock valued at $36,000 after buying an additional 981 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Core & Main in the first quarter valued at $58,000. Lazard Asset Management LLC purchased a new position in Core & Main in the second quarter valued at $107,000. Finally, Islay Capital Management LLC increased its holdings in Core & Main by 18.6% in the second 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 in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on CNM. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Core & Main from $41.00 to $40.00 and set a "buy" rating for the company in a report on Tuesday, January 10th. Robert W. Baird cut their price objective on shares of Core & Main from $30.00 to $29.00 and set an "outperform" rating for the company in a report on Tuesday. Royal Bank of Canada boosted their target price on shares of Core & Main from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 14th. The Goldman Sachs Group cut their target price on shares of Core & Main from $29.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, December 15th. Finally, Truist Financial cut their target price on shares of Core & Main to $22.00 in a research note on Wednesday, December 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $28.11.
Core & Main Stock Up 0.5 %
Shares of NYSE CNM opened at $21.18 on Wednesday. Core & Main, Inc. has a 12-month low of $18.75 and a 12-month high of $26.63. The stock has a market cap of $5.21 billion, a PE ratio of 10.09, a P/E/G ratio of 0.52 and a beta of 0.75. 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 company has a 50-day moving average of $20.44 and a 200 day moving average of $22.13.
Core & Main (NYSE:CNM - Get Rating) last announced its quarterly earnings data on Tuesday, December 13th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. Core & Main had a net margin of 5.52% and a return on equity of 22.01%. The company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.78 billion. As a group, sell-side analysts predict that Core & Main, Inc. will post 2.15 EPS for the current fiscal year.
Core & Main 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 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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