Core & Main, Inc. (NYSE:CNM) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 94.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,116 shares of the company's stock after selling 50,174 shares during the period. Allspring Global Investments Holdings LLC's holdings in Core & Main were worth $138,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its stake in shares of Core & Main by 1.9% in the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company's stock worth $595,000 after buying an additional 228 shares in the last quarter. United Services Automobile Association boosted its holdings in shares of Core & Main by 2.0% during the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company's stock worth $651,000 after purchasing an additional 266 shares during the last quarter. CWM LLC grew its position in shares of Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company's stock valued at $80,000 after purchasing an additional 334 shares in the last quarter. Lisanti Capital Growth LLC increased its holdings in shares of Core & Main by 0.3% in the first quarter. Lisanti Capital Growth LLC now owns 157,865 shares of the company's stock valued at $9,038,000 after purchasing an additional 395 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC lifted its position in Core & Main by 7.1% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 7,229 shares of the company's stock worth $414,000 after buying an additional 481 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CNM. Loop Capital cut their target price on Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, September 5th. Royal Bank of Canada reduced their target price on shares of Core & Main from $60.00 to $53.00 and set an "outperform" rating on the stock in a research note on Thursday, September 5th. Barclays dropped their price target on shares of Core & Main from $65.00 to $57.00 and set an "overweight" rating for the company in a research note on Thursday, September 5th. Truist Financial reduced their price target 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. Finally, Robert W. Baird increased their price objective on Core & Main from $53.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $51.20.

Core & Main Trading Up 0.8 %

CNM traded up $0.33 during mid-day trading on Monday, hitting $43.58. 2,038,298 shares of the stock were exchanged, compared to its average volume of 2,541,559. The firm's fifty day moving average is $44.00 and its two-hundred day moving average is $49.92. Core & Main, Inc. has a 1-year low of $29.60 and a 1-year high of $62.15. The company has a market cap of $8.77 billion, a PE ratio of 20.85, a PEG ratio of 2.88 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40.

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 business had revenue of $1.96 billion during the quarter, compared to analysts' expectations of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. Equities analysts forecast 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.