Victory Capital Management Inc. Has $10.20 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Victory Capital Management Inc. reduced its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 71.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,645 shares of the company's stock after selling 568,409 shares during the period. Victory Capital Management Inc. owned 0.11% of Core & Main worth $10,196,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CNM. Ashton Thomas Securities LLC bought a new position in Core & Main during the third quarter valued at about $26,000. ORG Wealth Partners LLC bought a new position in Core & Main during the third quarter valued at about $31,000. GAMMA Investing LLC raised its holdings in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $60,000 after buying an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in Core & Main during the second quarter valued at about $76,000. Finally, 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 during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Performance

NYSE:CNM opened at $44.75 on Thursday. Core & Main, Inc. has a 1 year low of $33.67 and a 1 year high of $62.15. The firm has a 50 day moving average of $44.09 and a 200-day moving average of $48.90. 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 capitalization of $9.00 billion, a P/E ratio of 21.41, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm posted $0.66 EPS. The business's revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CNM. Royal Bank of Canada lowered their price target on Core & Main from $60.00 to $53.00 and set an "outperform" rating on the stock in a research report on Thursday, September 5th. Barclays lowered their price target on Core & Main from $65.00 to $57.00 and set an "overweight" rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group lowered their price target on Core & Main from $57.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Robert W. Baird lifted their target price on Core & Main from $53.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Finally, Loop Capital decreased their target price on Core & Main from $64.00 to $52.00 and set a "buy" rating on the stock in a research report on Thursday, September 5th. One equities 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 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.

Core & Main Company Profile

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.