JPMorgan Chase & Co. Has $126.07 Million Holdings in Core & Main, Inc. (NYSE:CNM)

JPMorgan Chase & Co. increased its stake in shares of Core & Main, Inc. (NYSE:CNM) by 14.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,839,399 shares of the company’s stock after acquiring an additional 349,674 shares during the quarter. JPMorgan Chase & Co.’s holdings in Core & Main were worth $126,069,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new position in shares of Core & Main during the 3rd quarter worth about $26,000. ORG Wealth Partners LLC acquired a new stake in Core & Main during the third quarter worth about $31,000. Wilmington Savings Fund Society FSB acquired a new position in Core & Main in the 3rd quarter valued at approximately $49,000. GAMMA Investing LLC lifted its position in shares of Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after acquiring an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of Core & Main during the 2nd quarter worth approximately $76,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Bank of America decreased their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company increased their price target on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their target price on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus price target of $58.10.

Core & Main Trading Up 0.3 %

CNM stock opened at $50.91 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 23.90, a P/E/G ratio of 2.95 and a beta of 1.04. The business has a fifty day moving average price of $48.07 and a 200 day moving average price of $47.75. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. Analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Core & Main

In other Core & Main news, CEO Stephen O. Leclair sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total value of $10,976,000.00. Following the transaction, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey D. Giles sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the transaction, the executive vice president now owns 11,615 shares in the company, valued at $635,456.65. This represents a 68.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,000 shares of company stock worth $15,926,000. Corporate insiders own 3.49% of the company’s stock.

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.