Principal Financial Group Inc. Sells 70,447 Shares of Core & Main, Inc. (NYSE:CNM)

Principal Financial Group Inc. decreased its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 5.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,215,942 shares of the company's stock after selling 70,447 shares during the quarter. Principal Financial Group Inc. owned 0.60% of Core & Main worth $53,988,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. ORG Wealth Partners LLC acquired a new position in shares of Core & Main in the third quarter worth about $31,000. GAMMA Investing LLC boosted its stake in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock worth $60,000 after purchasing an additional 511 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Core & Main during the 2nd quarter worth approximately $76,000. CWM LLC raised its stake in Core & Main by 25.6% during the 2nd quarter. CWM LLC now owns 1,638 shares of the company's stock valued at $80,000 after purchasing an additional 334 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Core & Main in the third quarter valued at $93,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Stock Down 2.0 %

Core & Main stock traded down $0.86 during mid-day trading on Monday, hitting $42.72. 4,071,179 shares of the company's stock were exchanged, compared to its average volume of 2,551,654. Core & Main, Inc. has a 1-year low of $31.21 and a 1-year high of $62.15. The stock has a 50 day moving average of $43.59 and a two-hundred day moving average of $49.54. 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 $8.59 billion, a P/E ratio of 20.44, a P/E/G ratio of 2.84 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last posted its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $2.05 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, analysts anticipate that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of research analyst reports. Wells Fargo & Company started coverage on Core & Main in a report on Monday, September 23rd. They set an "overweight" rating and a $52.00 price target on the stock. Royal Bank of Canada lowered their target price on Core & Main from $60.00 to $53.00 and set an "outperform" rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. dropped their target price on Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, September 3rd. Loop Capital decreased their price target on shares of Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a report on Thursday, September 5th. Finally, Robert W. Baird upped their price objective on shares of Core & Main from $53.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. 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. According to data from MarketBeat.com, Core & Main has an average rating of "Moderate Buy" and a consensus target price of $51.20.

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.