JPMorgan Chase & Co. Has $126.07 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

JPMorgan Chase & Co. lifted its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,839,399 shares of the company's stock after purchasing an additional 349,674 shares during the period. JPMorgan Chase & Co. owned 1.43% of Core & Main worth $126,069,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the third quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in shares of Core & Main during the 3rd quarter worth about $31,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the 3rd quarter valued at about $49,000. GAMMA Investing LLC increased its stake in 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 acquiring an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in Core & Main in the second quarter worth about $76,000. Institutional investors own 94.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNM. Robert W. Baird lifted their price objective on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Truist Financial increased their price target on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Bank of America cut their price objective on Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a research report on Thursday, September 5th. Barclays lifted their price target on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.10.

Core & Main Trading Up 0.8 %

NYSE:CNM traded up $0.42 during mid-day trading on Thursday, hitting $51.33. The company had a trading volume of 2,167,721 shares, compared to its average volume of 2,580,100. The firm has a market cap of $10.20 billion, a P/E ratio of 24.10, a P/E/G ratio of 2.95 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The business's fifty day moving average is $48.18 and its two-hundred day moving average is $47.77. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business's revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.65 earnings per share. As a group, research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

In related news, CEO Stephen O. Leclair sold 200,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Margaret Newman sold 15,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total value of $828,750.00. Following the transaction, the director now owns 11,769 shares of the company's stock, valued at approximately $650,237.25. The trade was a 56.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,000 shares of company stock worth $15,926,000 in the last quarter. Corporate insiders own 3.49% of the company's stock.

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.