Core & Main, Inc. (NYSE:CNM) Shares Purchased by Lmcg Investments LLC

Lmcg Investments LLC grew its stake in shares of Core & Main, Inc. (NYSE:CNM) by 1.5% during the second quarter, HoldingsChannel reports. The firm owned 110,039 shares of the company’s stock after buying an additional 1,608 shares during the period. Lmcg Investments LLC’s holdings in Core & Main were worth $5,385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Rise Advisors LLC acquired a new position in Core & Main during the 1st quarter worth approximately $27,000. ORG Partners LLC acquired a new stake in Core & Main during the 1st quarter valued at $38,000. Quadrant Capital Group LLC increased its stake in Core & Main by 74.5% during the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the period. Principal Securities Inc. acquired a new position in Core & Main in the 4th quarter worth $43,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Core & Main in the 2nd quarter valued at about $76,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Up 1.1 %

NYSE:CNM opened at $41.28 on Tuesday. The firm has a market capitalization of $8.32 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04. The stock has a 50 day moving average of $48.55 and a 200-day moving average of $52.38. Core & Main, Inc. has a 52 week low of $27.75 and a 52 week high of $62.15. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. Core & Main’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts predict that Core & Main, Inc. will post 2.1 EPS for the current year.

Core & Main announced that its board has authorized a stock repurchase program on Wednesday, June 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays dropped their target price on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. dropped their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. The Goldman Sachs Group decreased their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Royal Bank of Canada dropped their target price on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Finally, Bank of America reduced their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.30.

Insider Activity at Core & Main

In other news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the sale, the director now owns 11,769 shares of the company’s stock, valued at $614,577.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.49% of the stock is currently owned by insiders.

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 sets, meter accessories, installation, software, and other services.