Janus Henderson Group PLC Sells 27,862 Shares of Core & Main, Inc. (NYSE:CNM)

Janus Henderson Group PLC reduced its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,015,867 shares of the company's stock after selling 27,862 shares during the period. Janus Henderson Group PLC owned approximately 2.49% of Core & Main worth $222,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in 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 last quarter. Comerica Bank raised its holdings in Core & Main by 30.9% in the 1st quarter. Comerica Bank now owns 67,754 shares of the company's stock valued at $3,879,000 after acquiring an additional 16,009 shares in the last quarter. Eagle Asset Management Inc. raised 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 acquiring an additional 44,282 shares in the last quarter. Quest Partners LLC raised its holdings in Core & Main by 1,195,600.0% in the 3rd 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 in the last quarter. Finally, SG Americas Securities LLC raised its holdings in 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 acquiring an additional 33,277 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Trading Down 0.9 %

Shares of Core & Main stock traded down $0.52 on Wednesday, hitting $55.26. 3,819,041 shares of the company's stock traded hands, compared to its average volume of 2,603,349. Core & Main, Inc. has a one year low of $35.03 and a one year high of $62.15. 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 company has a fifty day moving average of $45.03 and a two-hundred day moving average of $48.06. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 3.14 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CNM shares. Truist Financial boosted their price target on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday. Royal Bank of Canada restated 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. The Goldman Sachs Group reduced their price objective on Core & Main from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Bank of America reduced their price objective on Core & Main from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Thursday, September 5th. Finally, Loop Capital reduced their price objective on Core & Main from $64.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.