Amalgamated Bank Has $4.40 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Amalgamated Bank trimmed its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 3.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,041 shares of the company’s stock after selling 3,254 shares during the period. Amalgamated Bank’s holdings in Core & Main were worth $4,397,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CNM. Vanguard Group Inc. grew its holdings in Core & Main by 35.2% in the first quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock worth $1,038,457,000 after purchasing an additional 4,721,510 shares during the period. Select Equity Group L.P. grew its stake in shares of Core & Main by 0.3% in the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after buying an additional 39,475 shares during the period. Capital International Investors increased its position in Core & Main by 470.6% in the 1st quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock valued at $291,590,000 after buying an additional 4,200,591 shares in the last quarter. Pacer Advisors Inc. raised its stake in Core & Main by 37.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock worth $205,974,000 after buying an additional 1,137,817 shares during the period. Finally, Anomaly Capital Management LP boosted its holdings in Core & Main by 35.9% in the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock worth $176,601,000 after acquiring an additional 953,489 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Core & Main stock opened at $43.58 on Friday. The stock has a market cap of $8.77 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.84 and a beta of 1.02. 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 company’s 50 day moving average price is $43.78 and its two-hundred day moving average price is $49.81. Core & Main, Inc. has a 52 week low of $31.21 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 the consensus estimate of $0.74 by ($0.13). Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period in the prior year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CNM shares. Bank of America lowered their target price on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Royal Bank of Canada lowered their price objective on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Truist Financial reduced their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. lowered their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Finally, The Goldman Sachs Group cut their price target on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. One investment 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. According to MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and an average price target of $51.20.

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.