Raymond James & Associates Has $21.32 Million Stake in Core & Main, Inc. (NYSE:CNM)

Raymond James & Associates grew its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 10.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 480,167 shares of the company's stock after acquiring an additional 44,023 shares during the period. Raymond James & Associates owned 0.24% of Core & Main worth $21,319,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CNM. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 4,721,510 shares during the last quarter. Select Equity Group L.P. grew its stake 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 holdings in Core & Main by 470.6% in the first quarter. Capital International Investors now owns 5,093,278 shares of the company's stock valued at $291,590,000 after purchasing an additional 4,200,591 shares during the period. Pacer Advisors Inc. raised its position in Core & Main by 37.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock worth $205,974,000 after purchasing an additional 1,137,817 shares during the last quarter. Finally, Anomaly Capital Management LP lifted its holdings in Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock worth $176,601,000 after buying an additional 953,489 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Down 0.9 %

Shares of CNM traded down $0.40 during trading hours on Friday, hitting $45.20. The stock had a trading volume of 1,157,701 shares, compared to its average volume of 2,567,939. Core & Main, Inc. has a 1-year low of $29.13 and a 1-year high of $62.15. The firm has a market capitalization of $9.11 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. The firm has a 50 day simple moving average of $44.88 and a 200-day simple moving average of $50.44. 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 announced its quarterly earnings data 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 net margin of 5.58% and a return on equity of 21.91%. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the business posted $0.66 EPS. The company's revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNM. Truist Financial decreased their price target on Core & Main from $50.00 to $38.00 and set a "hold" rating for the company in a research note on Thursday, September 5th. Barclays lowered their price target on shares of Core & Main from $65.00 to $57.00 and set an "overweight" rating for the company in a report on Thursday, September 5th. Bank of America reduced 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 note on Thursday, September 5th. Loop Capital lowered their target price on shares of Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, September 5th. Finally, Robert W. Baird upped their price target on shares of Core & Main from $53.00 to $60.00 and gave the company an "outperform" rating in a research 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.