Foster & Motley Inc. Raises Holdings in Core & Main, Inc. (NYSE:CNM)

Foster & Motley Inc. increased its position in Core & Main, Inc. (NYSE:CNM) by 146.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,762 shares of the company’s stock after buying an additional 14,124 shares during the period. Foster & Motley Inc.’s holdings in Core & Main were worth $1,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Impax Asset Management Group plc raised its holdings in shares of Core & Main by 373.0% during the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock worth $89,416,000 after acquiring an additional 1,588,117 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Core & Main by 92.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 17,761 shares of the company’s stock valued at $789,000 after purchasing an additional 8,547 shares in the last quarter. Lmcg Investments LLC grew its stake in shares of Core & Main by 1.1% in the 3rd quarter. Lmcg Investments LLC now owns 111,250 shares of the company’s stock worth $4,940,000 after buying an additional 1,211 shares in the last quarter. VELA Investment Management LLC increased its holdings in shares of Core & Main by 79.8% in the 3rd quarter. VELA Investment Management LLC now owns 47,881 shares of the company’s stock worth $2,126,000 after buying an additional 21,247 shares during the last quarter. Finally, New York State Teachers Retirement System increased its holdings in shares of Core & Main by 3.8% in the 3rd quarter. New York State Teachers Retirement System now owns 89,978 shares of the company’s stock worth $3,995,000 after buying an additional 3,318 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CNM shares. Wells Fargo & Company initiated coverage on Core & Main in a research note on Monday, September 23rd. They set an “overweight” rating and a $52.00 price objective on the stock. Truist Financial dropped their target price on Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada lowered their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Loop Capital cut their price objective on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Finally, Robert W. Baird raised their target price on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Core & Main Trading Up 5.3 %

Shares of CNM opened at $47.12 on Thursday. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 2.81 and a beta of 1.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. Core & Main, Inc. has a 1-year low of $29.60 and a 1-year high of $62.15. The company has a 50-day moving average of $43.88 and a 200 day moving average of $49.85.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.13). The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. On average, research analysts expect that Core & Main, Inc. will post 2.1 EPS 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.