MetLife Investment Management LLC Purchases 10,413 Shares of Core & Main, Inc. (NYSE:CNM)

MetLife Investment Management LLC boosted its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 11.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,427 shares of the company's stock after acquiring an additional 10,413 shares during the quarter. MetLife Investment Management LLC owned 0.05% of Core & Main worth $4,681,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its holdings in shares of Core & Main by 6.2% during the 2nd quarter. Rhumbline Advisers now owns 508,554 shares of the company's stock worth $24,889,000 after purchasing an additional 29,490 shares during the period. Comerica Bank raised its position in Core & Main by 30.9% in the 1st quarter. Comerica Bank now owns 67,754 shares of the company's stock worth $3,879,000 after purchasing an additional 16,009 shares during the last quarter. Eagle Asset Management Inc. raised its position in shares of Core & Main by 2.6% during the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company's stock worth $74,979,000 after acquiring an additional 44,282 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Core & Main by 542.1% in the 2nd quarter. SG Americas Securities LLC now owns 39,415 shares of the company's stock valued at $1,929,000 after purchasing an additional 33,277 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in Core & Main by 1,195,600.0% in the third quarter. Quest Partners LLC now owns 11,957 shares of the company's stock valued at $531,000 after acquiring an additional 11,956 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Loop Capital dropped their price objective on Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, September 5th. Wells Fargo & Company started coverage on Core & Main in a research note on Monday, September 23rd. They set an "overweight" rating and a $52.00 target price for the company. Truist Financial dropped their price objective on shares of Core & Main from $50.00 to $38.00 and set a "hold" rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. cut their price target on Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, September 3rd. Finally, Bank of America decreased their price objective on Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a report on Thursday, September 5th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $51.20.

Core & Main Stock Performance

Core & Main stock traded down $0.25 during midday trading on Monday, reaching $48.30. 4,507,732 shares of the company's stock were exchanged, compared to its average volume of 2,567,295. 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 stock's 50-day simple moving average is $44.72 and its 200 day simple moving average is $48.18. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 3.16 and a beta of 1.02. 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 announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.13). The business had revenue of $1.96 billion for 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%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 EPS. On average, analysts expect that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal 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.