South Street Advisors LLC Raises Stock Position in Core & Main, Inc. (NYSE:CNM)

South Street Advisors LLC increased its stake in Core & Main, Inc. (NYSE:CNM) by 36.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 234,144 shares of the company’s stock after acquiring an additional 61,962 shares during the quarter. Core & Main makes up about 1.6% of South Street Advisors LLC’s portfolio, making the stock its 28th biggest holding. South Street Advisors LLC owned 0.12% of Core & Main worth $10,396,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC purchased a new stake in Core & Main in the 3rd quarter worth $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Core & Main during the third quarter worth $31,000. GAMMA Investing LLC grew its holdings in shares of Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after buying an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Core & Main during the second quarter worth $76,000. Finally, CWM LLC grew its holdings in shares of Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after buying an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Bank of America dropped their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Barclays dropped their target price on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Truist Financial dropped their target price on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Wells Fargo & Company initiated coverage on shares of Core & Main in a report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Trading Up 1.4 %

NYSE CNM traded up $0.60 during trading hours on Friday, reaching $42.51. The company had a trading volume of 3,110,768 shares, compared to its average volume of 2,560,480. The stock has a 50-day moving average of $43.72 and a 200 day moving average of $49.23. Core & Main, Inc. has a 1-year low of $33.47 and a 1-year 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. The stock has a market capitalization of $8.55 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 2.76 and a beta of 1.02.

Core & Main (NYSE:CNM) last posted its earnings results 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 net margin of 5.58% and a return on equity of 21.91%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the company earned $0.66 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Core & Main, Inc. will post 2.1 earnings per share 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 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.