Cerity Partners LLC Increases Stake in Core & Main, Inc. (NYSE:CNM)

Cerity Partners LLC raised its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 53.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,728 shares of the company's stock after purchasing an additional 11,118 shares during the quarter. Cerity Partners LLC's holdings in Core & Main were worth $1,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of CNM. Eagle Asset Management Inc. increased its holdings in Core & Main by 2.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company's stock valued at $74,979,000 after purchasing an additional 44,282 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company's stock valued at $188,710,000 after buying an additional 41,521 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Core & Main during the third quarter valued at approximately $541,000. Advisors Asset Management Inc. grew its position in Core & Main by 4.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 54,140 shares of the company's stock worth $2,404,000 after purchasing an additional 2,129 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Core & Main by 1,195,600.0% during the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company's stock valued at $531,000 after buying an additional 11,956 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Price Performance

Shares of NYSE:CNM traded down $0.52 during trading on Wednesday, reaching $55.26. The stock had a trading volume of 3,819,041 shares, compared to its average volume of 2,603,349. 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 capitalization of $11.11 billion, a PE ratio of 26.17, a P/E/G ratio of 3.14 and a beta of 1.04. The business's 50-day moving average price is $45.03 and its 200 day moving average price is $48.06. Core & Main, Inc. has a 52 week low of $35.03 and a 52 week high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analysts' expectations of $1.99 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm's revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. As a group, equities analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNM has been the subject of several research reports. Royal Bank of Canada reissued an "outperform" rating and set a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a research report on Wednesday. Loop Capital lowered their price target on shares of Core & Main from $64.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. decreased their price target 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. The Goldman Sachs Group cut their target price on shares of Core & Main from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Finally, Truist Financial boosted their price target on shares of Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.30.

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.