Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Core & Main, Inc. (NYSE:CNM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,556,606 shares of the company's stock after buying an additional 13,867 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.77% of Core & Main worth $69,113,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. FMR LLC grew its position in shares of Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company's stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the period. Swedbank AB purchased a new stake in Core & Main in the first quarter worth $98,876,000. Impax Asset Management Group plc increased its position in Core & Main by 373.0% in the third quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock worth $89,416,000 after buying an additional 1,588,117 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Core & Main by 37.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock valued at $205,974,000 after buying an additional 1,137,817 shares during the last quarter. Finally, Anomaly Capital Management LP lifted its position in shares of Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock valued at $176,601,000 after buying an additional 953,489 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Price Performance

NYSE CNM traded up $0.01 during trading on Thursday, reaching $47.11. The company's stock had a trading volume of 1,889,488 shares, compared to its average volume of 2,561,516. The firm has a fifty day moving average of $44.57 and a 200 day moving average of $48.44. Core & Main, Inc. has a one year low of $34.02 and a one year high of $62.15. The stock has a market capitalization of $9.48 billion, a PE ratio of 22.54, a P/E/G ratio of 3.09 and a beta of 1.02. 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 (NYSE:CNM - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $2.05 billion. During the same quarter last year, the company posted $0.66 earnings per share. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. Analysts expect that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNM has been the topic of a number of research reports. Wells Fargo & Company assumed coverage on Core & Main in a research note on Monday, September 23rd. They issued an "overweight" rating and a $52.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, September 3rd. Royal Bank of Canada lowered 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. The Goldman Sachs Group cut their price target on Core & Main from $57.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, September 6th. Finally, Robert W. Baird boosted their price objective on Core & Main from $53.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.