Zurcher Kantonalbank Zurich Cantonalbank Acquires 13,867 Shares of Core & Main, Inc. (NYSE:CNM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 0.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,556,606 shares of the company’s stock after buying an additional 13,867 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.77% of Core & Main worth $69,113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CNM. FMR LLC lifted its position in shares of Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares in the last quarter. Swedbank AB bought a new stake in shares of Core & Main during the 1st quarter valued at $98,876,000. Impax Asset Management Group plc lifted its holdings in 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 purchasing an additional 1,588,117 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Core & Main by 37.1% in the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock worth $205,974,000 after purchasing an additional 1,137,817 shares during the period. Finally, Anomaly Capital Management LP grew its holdings in Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock valued at $176,601,000 after buying an additional 953,489 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Loop Capital lowered their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Robert W. Baird increased their target price on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Barclays reduced their price target on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company assumed coverage on Core & Main in a research report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Core & Main Trading Up 0.1 %

NYSE CNM opened at $47.13 on Thursday. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The stock’s 50-day simple moving average is $44.49 and its two-hundred day simple moving average is $48.45. Core & Main, Inc. has a twelve month low of $34.02 and a twelve month high of $62.15. The company has a market capitalization of $9.48 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 3.09 and a beta of 1.02.

Core & Main (NYSE:CNM) last released its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share 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 firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Research analysts forecast that Core & Main, Inc. will post 2.1 EPS for the current fiscal 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.