Andina Capital Management LLC Buys 294 Shares of Core & Main, Inc. (NYSE:CNM)

Andina Capital Management LLC boosted its stake in shares of Core & Main, Inc. (NYSE:CNM) by 3.5% in the third quarter, Holdings Channel reports. The institutional investor owned 8,707 shares of the company’s stock after purchasing an additional 294 shares during the period. Andina Capital Management LLC’s holdings in Core & Main were worth $387,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American International Group Inc. lifted its position in Core & Main by 22.3% during the first quarter. American International Group Inc. now owns 225,823 shares of the company’s stock valued at $12,928,000 after purchasing an additional 41,229 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Core & Main during the first quarter valued at $29,731,000. Lord Abbett & CO. LLC lifted its position in Core & Main by 60.6% during the first quarter. Lord Abbett & CO. LLC now owns 836,211 shares of the company’s stock valued at $47,873,000 after purchasing an additional 315,411 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in Core & Main by 32.6% during the first quarter. Mutual of America Capital Management LLC now owns 101,636 shares of the company’s stock valued at $5,819,000 after acquiring an additional 24,976 shares during the period. Finally, Lazard Asset Management LLC raised its holdings in Core & Main by 370.9% during the first quarter. Lazard Asset Management LLC now owns 273,561 shares of the company’s stock valued at $15,661,000 after acquiring an additional 215,472 shares during the period. Institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CNM. Royal Bank of Canada decreased their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. reduced their target price on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. The Goldman Sachs Group reduced their target price on Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Wells Fargo & Company began coverage on Core & Main in a report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 target price on the stock. Finally, Bank of America reduced their target price on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Stock Down 0.6 %

NYSE:CNM traded down $0.26 during trading hours on Tuesday, reaching $44.98. The company’s stock had a trading volume of 254,801 shares, compared to its average volume of 2,550,049. The company has a market capitalization of $9.06 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. Core & Main, Inc. has a 12 month low of $29.16 and a 12 month high of $62.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. The stock has a 50 day moving average price of $44.76 and a two-hundred day moving average price of $50.30.

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