Core & Main, Inc. (NYSE:CNM) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 546,666 shares of the company’s stock after selling 19,053 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.27% of Core & Main worth $26,754,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNM. Rise Advisors LLC purchased a new stake in shares of Core & Main in the first quarter valued at approximately $27,000. ORG Partners LLC acquired a new stake in Core & Main in the first quarter valued at $38,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Core & Main during the 2nd quarter worth $76,000. Quarry LP grew its stake in shares of Core & Main by 87.0% during the 4th quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after purchasing an additional 888 shares during the period. Finally, CWM LLC grew its stake in shares of Core & Main by 25.6% during the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after purchasing an additional 334 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

NYSE CNM opened at $45.77 on Friday. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.87 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $27.98 and a fifty-two week high of $62.15. The business has a fifty day moving average of $47.30 and a 200-day moving average of $52.04.

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

Core & Main declared that its Board of Directors has authorized a share buyback plan on Wednesday, June 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on CNM shares. Robert W. Baird decreased their price objective on shares of Core & Main from $62.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Bank of America decreased their price target on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. lowered their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Wells Fargo & Company started coverage on Core & Main in a report on Monday, September 23rd. They set an “overweight” rating and a $52.00 price objective for the company. Finally, Barclays lowered their target price on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and an average target price of $49.55.

Insider Activity at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares in the company, valued at approximately $614,577.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.49% of the company’s stock.

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.