Core & Main, Inc. (NYSE:CNM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Core & Main, Inc. (NYSE:CNM) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 97,915 shares of the company’s stock after selling 3,721 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Core & Main were worth $4,792,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Core & Main by 35.2% during the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock valued at $1,038,457,000 after purchasing an additional 4,721,510 shares during the period. Capital International Investors boosted its position in shares of Core & Main by 470.6% during the first quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock worth $291,590,000 after buying an additional 4,200,591 shares during the period. Bessemer Group Inc. grew its holdings in Core & Main by 915.9% in 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 stake in Core & Main in the 1st quarter valued at approximately $98,876,000. Finally, Norges Bank bought a new stake in Core & Main during the 4th quarter valued at $69,282,000. Institutional investors own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Loop Capital dropped their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Barclays decreased their price objective on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Truist Financial dropped their target price on Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Robert W. Baird decreased their price target on Core & Main from $62.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.30.

Insider Activity at Core & Main

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

Core & Main Stock Down 3.1 %

Shares of Core & Main stock opened at $43.41 on Friday. Core & Main, Inc. has a 12-month low of $27.75 and a 12-month high of $62.15. The firm has a market capitalization of $8.75 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The stock’s fifty day moving average is $48.03 and its 200-day moving average is $52.18.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. Core & Main’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts anticipate that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Core & Main declared that its board has authorized a stock buyback plan on Wednesday, June 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.