Core & Main, Inc. (NYSE:CNM) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Core & Main, Inc. (NYSE:CNM) by 86.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,332 shares of the company’s stock after selling 34,083 shares during the period. SG Americas Securities LLC’s holdings in Core & Main were worth $237,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CNM. Vanguard Group Inc. boosted its position 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. Select Equity Group L.P. boosted its holdings in shares of Core & Main by 0.3% during the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after acquiring an additional 39,475 shares during the period. Capital International Investors boosted its holdings 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 valued at $291,590,000 after acquiring an additional 4,200,591 shares during the period. Pacer Advisors Inc. grew its position in shares of Core & Main by 37.1% during the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock worth $205,974,000 after acquiring an additional 1,137,817 shares during the last quarter. Finally, Anomaly Capital Management LP increased its holdings in shares of Core & Main by 35.9% in the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock worth $176,601,000 after acquiring an additional 953,489 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada cut their target price on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Robert W. Baird upped their price target on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. The Goldman Sachs Group lowered their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Bank of America cut their target price 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. Finally, 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 research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.20.

Core & Main Stock Performance

NYSE CNM opened at $46.10 on Tuesday. Core & Main, Inc. has a twelve month low of $29.13 and a twelve month high of $62.15. 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 has a market cap of $9.29 billion, a P/E ratio of 21.54, a PEG ratio of 2.83 and a beta of 1.02. The company’s 50-day simple moving average is $45.30 and its 200 day simple moving average is $50.75.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 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 analyst estimates of $2.05 billion. During the same quarter last year, the firm earned $0.66 earnings per share. Core & Main’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, research analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Core & Main 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.