Core & Main, Inc. (NYSE:CNM) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its position in Core & Main, Inc. (NYSE:CNM) by 55.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,929 shares of the company’s stock after selling 285,230 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Core & Main were worth $10,209,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Core & Main during the 3rd quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main in the third quarter valued at approximately $31,000. GAMMA Investing LLC increased its stake in Core & Main by 61.1% in 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. purchased a new stake in shares of Core & Main during the 2nd quarter worth approximately $76,000. Finally, CWM LLC boosted its holdings in shares of Core & Main by 25.6% in the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after buying an additional 334 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CNM. JPMorgan Chase & Co. reduced their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. Bank of America reduced their target price on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Robert W. Baird raised their price target on Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Truist Financial reduced their price objective on Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Finally, Loop Capital lowered their target price on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Core & Main Stock Performance

NYSE:CNM opened at $55.78 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.14 and a beta of 1.04. The firm’s fifty day moving average price is $44.80 and its 200 day moving average price is $48.09. Core & Main, Inc. has a 1-year low of $35.03 and a 1-year high of $62.15.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business earned $0.65 EPS. On average, sell-side analysts expect that Core & Main, Inc. will post 2.1 EPS for the current 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.