Vaughan Nelson Investment Management L.P. Has $861,000 Stake in Core & Main, Inc. (NYSE:CNM)

Vaughan Nelson Investment Management L.P. trimmed its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 98.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,385 shares of the company's stock after selling 1,123,057 shares during the period. Vaughan Nelson Investment Management L.P.'s holdings in Core & Main were worth $861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Core & Main by 35.2% during the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock worth $1,038,457,000 after acquiring an additional 4,721,510 shares in the last quarter. Capital International Investors grew its position in Core & Main by 470.6% in the first quarter. Capital International Investors now owns 5,093,278 shares of the company's stock valued at $291,590,000 after purchasing an additional 4,200,591 shares in the last quarter. Bessemer Group Inc. lifted its position in Core & Main by 915.9% during the 1st quarter. Bessemer Group Inc. now owns 2,586,395 shares of the company's stock worth $148,073,000 after buying an additional 2,331,802 shares in the last quarter. Swedbank AB acquired a new position in shares of Core & Main during the 1st quarter worth about $98,876,000. Finally, Impax Asset Management Group plc grew its holdings in shares of Core & Main by 373.0% in the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock valued at $89,416,000 after acquiring an additional 1,588,117 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Price Performance

CNM traded up $1.51 during trading on Monday, hitting $44.02. 2,708,208 shares of the stock traded hands, compared to its average volume of 2,561,144. The business has a 50 day moving average price of $43.72 and a 200 day moving average price of $49.13. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. Core & Main, Inc. has a twelve month low of $33.47 and a twelve month high of $62.15. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.77 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 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. Core & Main's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. Equities research analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America reduced their price target on Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a research report on Thursday, September 5th. Loop Capital decreased their target price on shares of Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a research note on Thursday, September 5th. The Goldman Sachs Group dropped their price target on shares of Core & Main from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Truist Financial decreased their price objective on shares of Core & Main from $50.00 to $38.00 and set a "hold" rating for the company in a research report on Thursday, September 5th. Finally, Royal Bank of Canada dropped their target price on shares of Core & Main from $60.00 to $53.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus 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.