Raymond James & Associates Has $21.35 Million Stock Position in Core & Main, Inc. (NYSE:CNM)

Raymond James & Associates raised its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 3.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 436,144 shares of the company's stock after acquiring an additional 15,091 shares during the quarter. Raymond James & Associates owned approximately 0.22% of Core & Main worth $21,345,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in Core & Main during the 1st quarter worth about $27,000. Quadrant Capital Group LLC grew its position in shares of Core & Main by 74.5% during the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company's stock valued at $35,000 after acquiring an additional 365 shares during the period. ORG Partners LLC purchased a new stake in Core & Main in the 1st quarter worth about $38,000. GAMMA Investing LLC bought a new position in Core & Main during the fourth quarter worth about $41,000. Finally, Principal Securities Inc. purchased a new stake in shares of Core & Main in the 4th quarter valued at about $43,000. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Performance

NYSE CNM traded down $0.25 during trading hours on Thursday, hitting $51.25. The company's stock had a trading volume of 1,025,826 shares, compared to its average volume of 2,420,988. Core & Main, Inc. has a 12 month low of $27.75 and a 12 month high of $62.15. The company's 50 day simple moving average is $50.46 and its two-hundred day simple moving average is $52.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.14 and a quick ratio of 1.23. The company has a market cap of $10.32 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.02). Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.32 EPS for the current fiscal year.

Insider Activity at Core & Main

In other news, Director James G. Castellano sold 12,500 shares of the firm's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $652,750.00. Following the sale, the director now directly owns 11,769 shares in the company, valued at approximately $614,577.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CNM has been the topic of several research analyst reports. Truist Financial decreased their price objective on shares of Core & Main from $56.00 to $50.00 and set a "hold" rating on the stock in a research report on Wednesday, June 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $60.00 price objective on shares of Core & Main in a research report on Wednesday, June 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $52.90.

Core & Main Company 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.