Ritholtz Wealth Management Decreases Position in Core & Main, Inc. (NYSE:CNM)

Ritholtz Wealth Management decreased its position in Core & Main, Inc. (NYSE:CNM) by 20.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,046 shares of the company’s stock after selling 3,618 shares during the period. Ritholtz Wealth Management’s holdings in Core & Main were worth $624,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CNM. Rise Advisors LLC bought a new stake in shares of Core & Main in the first quarter valued at $27,000. ORG Partners LLC bought a new stake in Core & Main in the 1st quarter valued at about $38,000. GAMMA Investing LLC lifted its holdings in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Core & Main during the second quarter worth about $76,000. Finally, CWM LLC increased its stake in shares of Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after purchasing an additional 334 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CNM. Loop Capital dropped their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Truist Financial cut their price target on Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. decreased their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Robert W. Baird dropped their price objective on Core & Main from $62.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, Royal Bank of Canada reduced their target price on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. One 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. Based on data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus target price of $50.50.

Core & Main Stock Down 0.1 %

Shares of NYSE CNM opened at $45.22 on Wednesday. The business has a 50-day moving average of $45.48 and a 200-day moving average of $51.08. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.83 and a beta of 1.02. 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, Inc. has a 12 month low of $29.13 and a 12 month high of $62.15.

Core & Main (NYSE:CNM) last issued its quarterly 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 return on equity of 21.91% and a net margin of 5.58%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the company earned $0.66 EPS. Core & Main’s quarterly revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

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.