Thrivent Financial for Lutherans Purchases 6,227 Shares of Core & Main, Inc. (NYSE:CNM)

Thrivent Financial for Lutherans raised its position in shares of Core & Main, Inc. (NYSE:CNM) by 6.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 109,225 shares of the company’s stock after purchasing an additional 6,227 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Core & Main were worth $4,849,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CNM. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main in the third quarter valued at $26,000. ORG Wealth Partners LLC purchased a new position in shares of Core & Main in the 3rd quarter worth $31,000. GAMMA Investing LLC increased its holdings 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 buying an additional 511 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Core & Main during the 2nd quarter valued at about $76,000. Finally, CWM LLC lifted its holdings in shares of Core & Main by 25.6% in the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after acquiring an additional 334 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CNM shares. JPMorgan Chase & Co. reduced their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Loop Capital decreased their price target on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company initiated coverage on shares of Core & Main in a research note on Monday, September 23rd. They set an “overweight” rating and a $52.00 price objective for the company. Barclays reduced their target price on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group dropped their price target on shares of 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 equities research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

Core & Main Price Performance

Core & Main stock opened at $45.27 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The stock has a market cap of $9.11 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 2.90 and a beta of 1.02. The firm has a 50-day moving average of $44.27 and a two-hundred day moving average of $48.70. Core & Main, Inc. has a 1 year low of $34.02 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. On average, research analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current 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.