DekaBank Deutsche Girozentrale Acquires 4,782 Shares of Core & Main, Inc. (NYSE:CNM)

DekaBank Deutsche Girozentrale increased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 21.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 27,276 shares of the company’s stock after purchasing an additional 4,782 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Core & Main were worth $1,211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. American International Group Inc. grew its holdings in Core & Main by 22.3% during the first quarter. American International Group Inc. now owns 225,823 shares of the company’s stock worth $12,928,000 after purchasing an additional 41,229 shares during the period. William Blair Investment Management LLC bought a new position in Core & Main during the first quarter worth about $29,731,000. Lord Abbett & CO. LLC grew its holdings in Core & Main by 60.6% during the first quarter. Lord Abbett & CO. LLC now owns 836,211 shares of the company’s stock worth $47,873,000 after purchasing an additional 315,411 shares during the period. Mutual of America Capital Management LLC grew its holdings in Core & Main by 32.6% during the first quarter. Mutual of America Capital Management LLC now owns 101,636 shares of the company’s stock worth $5,819,000 after purchasing an additional 24,976 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Core & Main by 370.9% during the first quarter. Lazard Asset Management LLC now owns 273,561 shares of the company’s stock worth $15,661,000 after purchasing an additional 215,472 shares during the period. Institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

CNM has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group cut 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 report on Friday, September 6th. Royal Bank of Canada cut their price objective on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Truist Financial cut their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Bank of America cut 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 report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

Core & Main Stock Down 2.3 %

NYSE CNM opened at $43.25 on Friday. 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 1-year low of $29.60 and a 1-year high of $62.15. The company has a 50 day moving average of $44.20 and a 200-day moving average of $50.03. The company has a market cap of $8.70 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.96 and a beta of 1.02.

Core & Main (NYSE:CNM) last released its quarterly earnings results 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 business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

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.