Core & Main, Inc. (NYSE:CNM) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 86.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,332 shares of the company's stock after selling 34,083 shares during the quarter. SG Americas Securities LLC's holdings in Core & Main were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNM. Vanguard Group Inc. grew its position in Core & Main by 35.2% in the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock valued at $1,038,457,000 after acquiring an additional 4,721,510 shares during the last quarter. Select Equity Group L.P. grew its holdings in shares of Core & Main by 0.3% in the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company's stock worth $754,986,000 after purchasing an additional 39,475 shares during the last quarter. Capital International Investors increased its stake in Core & Main by 470.6% in the 1st quarter. Capital International Investors now owns 5,093,278 shares of the company's stock worth $291,590,000 after buying 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 boosted its position in Core & Main by 35.9% in the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock valued at $176,601,000 after buying an additional 953,489 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Performance

Shares of NYSE CNM traded down $0.59 during midday trading on Tuesday, reaching $45.50. The company had a trading volume of 1,190,064 shares, compared to its average volume of 2,590,432. Core & Main, Inc. has a 1 year low of $29.13 and a 1 year high of $62.15. The business's 50-day simple moving average is $45.30 and its 200 day simple moving average is $50.75. 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 market cap of $9.17 billion, a P/E ratio of 21.26, a P/E/G ratio of 2.83 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last issued its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) 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 analysts' expectations of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The business's revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS. On average, analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CNM shares. Barclays reduced their target price on shares of Core & Main from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, September 5th. Robert W. Baird increased their target price on Core & Main from $53.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Loop Capital reduced their price target on Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, September 5th. 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, Royal Bank of Canada lowered their price target on shares of Core & Main from $60.00 to $53.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. One 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. According to data from MarketBeat, Core & Main has a consensus rating of "Moderate Buy" and a consensus price target of $51.20.

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.