Core & Main, Inc. (NYSE:CNM) Position Increased by KBC Group NV

KBC Group NV raised its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,358,955 shares of the company's stock after purchasing an additional 98,992 shares during the period. KBC Group NV owned 0.68% of Core & Main worth $60,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. American International Group Inc. boosted its holdings in shares of Core & Main by 22.3% in the 1st quarter. American International Group Inc. now owns 225,823 shares of the company's stock valued at $12,928,000 after buying an additional 41,229 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Core & Main by 60.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 836,211 shares of the company's stock valued at $47,873,000 after buying an additional 315,411 shares in the last quarter. Lazard Asset Management LLC boosted its stake in Core & Main by 370.9% during the 1st quarter. Lazard Asset Management LLC now owns 273,561 shares of the company's stock worth $15,661,000 after purchasing an additional 215,472 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Core & Main by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,745 shares of the company's stock worth $89,697,000 after purchasing an additional 375,311 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Core & Main by 35.9% during the 1st quarter. Advisors Asset Management Inc. now owns 45,940 shares of the company's stock worth $2,630,000 after purchasing an additional 12,139 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Trading Down 1.6 %

Shares of NYSE CNM traded down $0.66 during midday trading on Thursday, reaching $41.72. 1,710,325 shares of the stock were exchanged, compared to its average volume of 2,552,408. The company has a market capitalization of $8.39 billion, a P/E ratio of 20.28, a P/E/G ratio of 2.75 and a beta of 1.02. Core & Main, Inc. has a 52-week low of $33.38 and a 52-week high of $62.15. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average price of $43.56 and a 200-day moving average price of $49.39.

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 for the quarter, missing analysts' consensus estimates 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 quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. Equities research analysts expect that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on CNM shares. Barclays decreased their price target on shares of Core & Main from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, September 5th. Bank of America reduced 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. Wells Fargo & Company started coverage on shares of Core & Main in a report on Monday, September 23rd. They issued an "overweight" rating and a $52.00 price target for the company. Truist Financial cut their price target on shares of Core & Main from $50.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, September 5th. Finally, Robert W. Baird increased their price target on shares of Core & Main from $53.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. 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. Based on data from MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and an average price target of $51.20.

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.