Core & Main, Inc. (NYSE:CNM) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lessened its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 36.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,595 shares of the company's stock after selling 10,070 shares during the period. Glenmede Trust Co. NA's holdings in Core & Main were worth $781,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main during the third quarter worth $26,000. ORG Wealth Partners LLC purchased a new position in Core & Main during the 3rd quarter valued at about $31,000. GAMMA Investing LLC grew its position in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $60,000 after acquiring an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Core & Main during the second quarter worth about $76,000. Finally, CWM LLC lifted its position in shares of Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company's stock worth $80,000 after purchasing an additional 334 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNM has been the subject of several research reports. 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. Truist Financial upped their price target on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday. Robert W. Baird boosted their price objective on Core & Main from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Wednesday. Barclays upped their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.30.

Core & Main Price Performance

Shares of Core & Main stock traded down $1.42 during trading on Wednesday, reaching $54.36. The company's stock had a trading volume of 1,704,105 shares, compared to its average volume of 2,594,062. The business has a 50 day moving average price of $44.80 and a 200-day moving average price of $48.09. Core & Main, Inc. has a 12-month low of $35.03 and a 12-month high of $62.15. The company has a market capitalization of $10.93 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 3.14 and a beta of 1.04. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40.

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