50,458 Shares in Core & Main, Inc. (NYSE:CNM) Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. purchased a new stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,458 shares of the company's stock, valued at approximately $2,240,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Riverwater Partners LLC increased its holdings in shares of Core & Main by 20.6% in the 3rd quarter. Riverwater Partners LLC now owns 6,079 shares of the company's stock worth $266,000 after buying an additional 1,038 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in Core & Main in the third quarter worth about $3,111,000. Border to Coast Pensions Partnership Ltd increased its stake in Core & Main by 22.7% during the third quarter. Border to Coast Pensions Partnership Ltd now owns 420,223 shares of the company's stock worth $18,603,000 after acquiring an additional 77,866 shares during the last quarter. Raymond James & Associates raised its position in Core & Main by 10.1% during the third quarter. Raymond James & Associates now owns 480,167 shares of the company's stock valued at $21,319,000 after purchasing an additional 44,023 shares during the period. Finally, Swedbank AB lifted its stake in shares of Core & Main by 8.2% in the 3rd quarter. Swedbank AB now owns 1,782,100 shares of the company's stock valued at $79,125,000 after purchasing an additional 135,000 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial cut their price objective on shares of Core & Main from $50.00 to $38.00 and set a "hold" rating on the stock in a research report on Thursday, September 5th. 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. Bank of America dropped their target price on shares of Core & Main from $38.00 to $34.00 and set an "underperform" rating on the stock in a report on Thursday, September 5th. 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. Finally, Robert W. Baird lifted their price target on Core & Main from $53.00 to $60.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and an average target price of $51.20.

Core & Main Stock Performance

Shares of Core & Main stock traded down $1.03 during midday trading on Friday, hitting $43.25. The company had a trading volume of 2,372,706 shares, compared to its average volume of 2,543,741. The company has a fifty day simple moving average of $44.39 and a 200 day simple moving average of $50.15. The stock has a market cap of $8.70 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 2.96 and a beta of 1.02. 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, Inc. has a 12-month low of $29.60 and a 12-month high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). The company had revenue of $1.96 billion for 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 quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. As a group, analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

About Core & Main

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.