South Street Advisors LLC Acquires 61,962 Shares of Core & Main, Inc. (NYSE:CNM)

South Street Advisors LLC boosted its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 36.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,144 shares of the company's stock after buying an additional 61,962 shares during the period. Core & Main makes up about 1.6% of South Street Advisors LLC's holdings, making the stock its 28th biggest position. South Street Advisors LLC owned approximately 0.12% of Core & Main worth $10,396,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Empowered Funds LLC raised its position in Core & Main by 10.8% during the third quarter. Empowered Funds LLC now owns 100,681 shares of the company's stock valued at $4,470,000 after buying an additional 9,848 shares during the period. Sheaff Brock Investment Advisors LLC grew its stake in Core & Main by 10.4% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 8,086 shares of the company's stock valued at $359,000 after purchasing an additional 761 shares in the last quarter. KBC Group NV grew its stake in Core & Main by 7.9% in the third quarter. KBC Group NV now owns 1,358,955 shares of the company's stock valued at $60,338,000 after purchasing an additional 98,992 shares in the last quarter. Versor Investments LP grew its stake in Core & Main by 136.8% in the third quarter. Versor Investments LP now owns 25,810 shares of the company's stock valued at $1,146,000 after purchasing an additional 14,910 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in Core & Main in the third quarter valued at about $26,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Price Performance

Shares of Core & Main stock traded up $0.60 during midday trading on Friday, hitting $42.51. 3,110,768 shares of the company were exchanged, compared to its average volume of 2,560,480. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The firm has a market cap of $8.55 billion, a P/E ratio of 20.34, a PEG ratio of 2.76 and a beta of 1.02. Core & Main, Inc. has a 52 week low of $33.47 and a 52 week high of $62.15. The firm has a 50 day simple moving average of $43.72 and a 200-day simple moving average of $49.23.

Core & Main (NYSE:CNM - Get Free Report) last posted its earnings results 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 the consensus estimate of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. Core & Main's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.66 EPS. Research analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. 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. decreased their price target on Core & Main from $54.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, September 3rd. Loop Capital decreased their price target 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. Bank of America decreased their price target on Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a research note on Thursday, September 5th. Finally, Wells Fargo & Company began coverage on Core & Main in a research note on Monday, September 23rd. They set an "overweight" rating and a $52.00 target price for the company. 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, the company currently has an average rating of "Moderate Buy" and an average price target 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.