Core & Main, Inc. (NYSE:CNM) Holdings Decreased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its holdings in Core & Main, Inc. (NYSE:CNM) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,544,525 shares of the company’s stock after selling 251,340 shares during the period. Charles Schwab Investment Management Inc. owned about 0.77% of Core & Main worth $68,577,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its position in shares of Core & Main by 18.2% in the first quarter. Public Employees Retirement System of Ohio now owns 82,755 shares of the company’s stock worth $4,738,000 after purchasing an additional 12,755 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Core & Main by 35.3% during the 1st quarter. California State Teachers Retirement System now owns 190,062 shares of the company’s stock valued at $10,881,000 after buying an additional 49,620 shares during the period. Comerica Bank grew its holdings in shares of Core & Main by 30.9% during the 1st quarter. Comerica Bank now owns 67,754 shares of the company’s stock valued at $3,879,000 after acquiring an additional 16,009 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Core & Main in the first quarter worth $831,000. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Core & Main by 51.2% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 52,900 shares of the company’s stock valued at $3,029,000 after purchasing an additional 17,911 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Price Performance

Shares of NYSE:CNM opened at $47.11 on Friday. The company has a market cap of $9.48 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 3.09 and a beta of 1.02. The business has a 50 day moving average price of $44.57 and a 200 day moving average price of $48.44. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. Core & Main, Inc. has a twelve month low of $34.02 and a twelve month high of $62.15.

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

Analysts Set New Price Targets

CNM has been the topic of several research reports. Loop Capital dropped their target price on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. reduced their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Royal Bank of Canada dropped their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. The Goldman Sachs Group reduced their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Barclays lowered their target price on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. One 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.20.

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.