Core & Main, Inc. (NYSE:CNM) Shares Purchased by Border to Coast Pensions Partnership Ltd

Border to Coast Pensions Partnership Ltd boosted its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 22.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 420,223 shares of the company's stock after buying an additional 77,866 shares during the quarter. Border to Coast Pensions Partnership Ltd owned 0.21% of Core & Main worth $18,603,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Core & Main by 35.2% during the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock worth $1,038,457,000 after purchasing an additional 4,721,510 shares during the period. Select Equity Group L.P. grew its position in Core & Main by 0.3% in the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company's stock valued at $754,986,000 after acquiring an additional 39,475 shares during the last quarter. Capital International Investors increased its stake in Core & Main by 470.6% in the first quarter. Capital International Investors now owns 5,093,278 shares of the company's stock worth $291,590,000 after purchasing an additional 4,200,591 shares during the period. Pacer Advisors Inc. lifted its holdings in Core & Main by 37.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock valued at $205,974,000 after buying an additional 1,137,817 shares in the last quarter. Finally, Anomaly Capital Management LP raised its stake in shares of Core & Main by 35.9% during the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock valued at $176,601,000 after acquiring an additional 953,489 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

Analysts Set New Price Targets

CNM has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their target price on Core & Main from $60.00 to $53.00 and set an "outperform" rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. cut their target price 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. Wells Fargo & Company started coverage on shares of Core & Main in a research report on Monday, September 23rd. They issued an "overweight" rating and a $52.00 price target for the company. Truist Financial dropped their price objective on Core & Main from $50.00 to $38.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. Finally, Bank of America cut their price objective on shares of Core & Main from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Thursday, September 5th. One research 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.20.

Core & Main Stock Performance

CNM traded down $0.62 during trading on Monday, reaching $46.10. 1,216,593 shares of the company's stock were exchanged, compared to its average volume of 2,597,331. The stock has a market capitalization of $9.29 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. The company's fifty day simple moving average is $45.30 and its 200-day simple moving average is $50.75. Core & Main, Inc. has a 1 year low of $29.13 and a 1 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.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company's revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. As a group, research analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

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.