Foster & Motley Inc. Invests $472,000 in Core & Main, Inc. (NYSE:CNM)

Foster & Motley Inc. purchased a new position in shares of Core & Main, Inc. (NYSE:CNM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,638 shares of the company’s stock, valued at approximately $472,000.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Core & Main during the 4th quarter worth approximately $69,282,000. Forest Avenue Capital Management LP acquired a new position in shares of Core & Main during the 4th quarter worth approximately $13,085,000. Charles Schwab Investment Management Inc. raised its position in shares of Core & Main by 27.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,348,537 shares of the company’s stock worth $54,494,000 after purchasing an additional 286,513 shares during the last quarter. Chesapeake Capital Corp IL acquired a new position in shares of Core & Main during the 4th quarter worth approximately $962,000. Finally, American International Group Inc. raised its position in shares of Core & Main by 20,185.1% during the 4th quarter. American International Group Inc. now owns 184,594 shares of the company’s stock worth $7,459,000 after purchasing an additional 183,684 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 0.1 %

CNM stock opened at $38.02 on Friday. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.82 and a beta of 1.04. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46. The business has a fifty day simple moving average of $49.66 and a 200-day simple moving average of $52.59. Core & Main, Inc. has a 52 week low of $27.75 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same period 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. On average, equities research analysts expect that Core & Main, Inc. will post 2.32 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CNM. JPMorgan Chase & Co. cut their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday. The Goldman Sachs Group cut their price objective on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday. Bank of America cut their price target on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday. Robert W. Baird cut their price target on Core & Main from $62.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Royal Bank of Canada cut their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.82.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares of the company’s stock, valued at approximately $614,577.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.49% of the stock is currently owned by corporate insiders.

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.