Vontobel Holding Ltd. Has $2.64 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Vontobel Holding Ltd. decreased its position in shares of Core & Main, Inc. (NYSE:CNM) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,529 shares of the company’s stock after selling 5,929 shares during the period. Vontobel Holding Ltd.’s holdings in Core & Main were worth $2,643,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Core & Main by 35.2% during the first quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock worth $1,038,457,000 after buying an additional 4,721,510 shares in the last quarter. Select Equity Group L.P. increased its holdings in shares of Core & Main by 0.3% during the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock worth $754,986,000 after buying an additional 39,475 shares in the last quarter. Capital International Investors increased its holdings in shares of Core & Main by 470.6% during the first quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock worth $291,590,000 after buying an additional 4,200,591 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Core & Main by 37.1% during the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock worth $205,974,000 after buying an additional 1,137,817 shares in the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of Core & Main by 35.9% during the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock worth $176,601,000 after buying an additional 953,489 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CNM. Royal Bank of Canada lowered their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered their price target 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. Loop Capital lowered their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Truist Financial lowered their price target 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, The Goldman Sachs Group lowered their price target 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Price Performance

Shares of CNM stock opened at $46.74 on Friday. The firm’s 50 day moving average price is $45.35 and its two-hundred day moving average price is $50.94. The stock has a market cap of $9.42 billion, a PE ratio of 21.84, a PEG ratio of 2.83 and a beta of 1.02. Core & Main, Inc. has a 52-week low of $29.13 and a 52-week 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.

Core & Main (NYSE:CNM) last announced its quarterly 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). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. As a group, analysts forecast that Core & Main, Inc. will post 2.1 EPS for the current 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.