E. Ohman J or Asset Management AB Trims Stake in Core & Main, Inc. (NYSE:CNM)

E. Ohman J or Asset Management AB lessened its stake in shares of Core & Main, Inc. (NYSE:CNM) by 4.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,604 shares of the company’s stock after selling 2,664 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Core & Main were worth $2,646,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its position in Core & Main by 1.9% during the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock worth $595,000 after acquiring an additional 228 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of Core & Main by 2.0% during the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock worth $651,000 after purchasing an additional 266 shares during the last quarter. CWM LLC grew its position in shares of Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after purchasing an additional 334 shares during the period. Lisanti Capital Growth LLC increased its stake in Core & Main by 0.3% in the first quarter. Lisanti Capital Growth LLC now owns 157,865 shares of the company’s stock valued at $9,038,000 after purchasing an additional 395 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC lifted its position in Core & Main by 7.1% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,229 shares of the company’s stock worth $414,000 after buying an additional 481 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Trading Down 0.9 %

NYSE CNM opened at $45.20 on Friday. The stock has a market cap of $9.11 billion, a P/E ratio of 21.12, a PEG ratio of 2.83 and a beta of 1.02. The company’s fifty day simple moving average is $44.88 and its 200-day simple moving average is $50.48. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. Core & Main, Inc. has a 52 week low of $29.13 and a 52 week 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 analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts predict that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

CNM has been the subject of several recent analyst reports. Wells Fargo & Company initiated coverage on Core & Main in a report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target for the company. Barclays lowered their target price on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada cut 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. Bank of America lowered their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, Robert W. Baird increased their target price on Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.20.

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.