Royal London Asset Management Ltd. Purchases 1,073,451 Shares of Core & Main, Inc. (NYSE:CNM)

Royal London Asset Management Ltd. boosted its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 39.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,761,906 shares of the company's stock after acquiring an additional 1,073,451 shares during the quarter. Royal London Asset Management Ltd. owned about 1.87% of Core & Main worth $167,029,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CNM. CWM LLC raised its holdings in shares of Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company's stock valued at $80,000 after acquiring an additional 334 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of Core & Main by 1.9% during 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 during the period. SG Americas Securities LLC boosted its holdings in Core & Main by 542.1% in the second quarter. SG Americas Securities LLC now owns 39,415 shares of the company's stock valued at $1,929,000 after purchasing an additional 33,277 shares during the period. Andina Capital Management LLC boosted its holdings in Core & Main by 12.4% in the second quarter. Andina Capital Management LLC now owns 8,413 shares of the company's stock valued at $412,000 after purchasing an additional 929 shares during the period. Finally, Border to Coast Pensions Partnership Ltd acquired a new stake in Core & Main in the second quarter valued at $16,760,000. Institutional investors and hedge funds own 94.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CNM shares. Truist Financial lifted their target price on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday. Robert W. Baird lifted their price objective on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Wednesday. Royal Bank of Canada reissued an "outperform" rating and set a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research note on Wednesday. Wells Fargo & Company lifted their price objective on Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price target 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 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's stock. Based on data from MarketBeat, Core & Main presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.10.

Core & Main Price Performance

Shares of Core & Main stock traded down $0.65 during trading on Thursday, hitting $54.60. 848,235 shares of the company's stock traded hands, compared to its average volume of 2,595,681. Core & Main, Inc. has a twelve month low of $35.70 and a twelve month high of $62.15. The company has a market cap of $10.98 billion, a PE ratio of 25.64, a PEG ratio of 3.63 and a beta of 1.04. The firm's fifty day moving average price is $45.25 and its 200 day moving average price is $48.11. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.34.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 earnings per share. Analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current 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.