Lecap Asset Management Ltd. Buys Shares of 70,072 Core & Main, Inc. (NYSE:CNM)

Lecap Asset Management Ltd. acquired a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 70,072 shares of the company's stock, valued at approximately $3,111,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American International Group Inc. lifted its position in Core & Main by 22.3% in the first quarter. American International Group Inc. now owns 225,823 shares of the company's stock valued at $12,928,000 after purchasing an additional 41,229 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Core & Main during the first quarter valued at approximately $29,731,000. Lord Abbett & CO. LLC raised its holdings in shares of Core & Main by 60.6% during the first quarter. Lord Abbett & CO. LLC now owns 836,211 shares of the company's stock valued at $47,873,000 after acquiring an additional 315,411 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Core & Main by 32.6% during the first quarter. Mutual of America Capital Management LLC now owns 101,636 shares of the company's stock valued at $5,819,000 after acquiring an additional 24,976 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Core & Main by 370.9% during the first quarter. Lazard Asset Management LLC now owns 273,561 shares of the company's stock valued at $15,661,000 after acquiring an additional 215,472 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Down 0.6 %

Shares of NYSE CNM traded down $0.27 during trading on Wednesday, reaching $45.23. The company had a trading volume of 1,066,704 shares, compared to its average volume of 2,583,121. Core & Main, Inc. has a 12-month low of $29.13 and a 12-month high of $62.15. The stock has a market cap of $9.11 billion, a PE ratio of 21.16, a P/E/G ratio of 2.83 and a beta of 1.02. The business's 50-day moving average is $45.20 and its 200 day moving average is $50.65. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts' consensus estimates of $0.74 by ($0.13). Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The company's revenue was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CNM shares. Wells Fargo & Company started coverage on Core & Main in a report on Monday, September 23rd. They set an "overweight" rating and a $52.00 target price for the company. Truist Financial decreased their target price on Core & Main from $50.00 to $38.00 and set a "hold" rating for the company in a report on Thursday, September 5th. Loop Capital decreased their target price on Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, September 5th. Royal Bank of Canada decreased their price objective on Core & Main from $60.00 to $53.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. Finally, JPMorgan Chase & Co. decreased their price objective on Core & Main from $54.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $51.20.

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.