Core & Main, Inc. (NYSE:CNM) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 14.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,544,525 shares of the company's stock after selling 251,340 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.77% of Core & Main worth $68,577,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new stake in shares of Core & Main during the 3rd quarter valued at approximately $26,000. ORG Wealth Partners LLC purchased a new position in shares of Core & Main in the third quarter valued at $31,000. GAMMA Investing LLC increased its position in shares of Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $60,000 after buying an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Core & Main in the 2nd quarter worth about $76,000. Finally, CWM LLC increased its holdings in Core & Main by 25.6% during 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 in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Loop Capital dropped their price objective on shares of Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company started coverage on Core & Main in a research report on Monday, September 23rd. They set an "overweight" rating and a $52.00 price target for the company. 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 report on Tuesday, September 3rd. Bank of America cut their target price 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 raised their target price on shares of 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 given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.20.

Core & Main Trading Up 3.0 %

CNM traded up $1.42 on Friday, reaching $48.53. 1,956,639 shares of the company's stock were exchanged, compared to its average volume of 2,558,898. Core & Main, Inc. has a twelve month low of $34.32 and a twelve month high of $62.15. The company's 50 day moving average is $44.61 and its 200-day moving average is $48.43. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. The company has a market cap of $9.76 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 3.07 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last posted its 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 company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. Core & Main's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 EPS. Equities analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current year.

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.