Ashton Thomas Securities LLC Takes $26,000 Position in Core & Main, Inc. (NYSE:CNM)

Ashton Thomas Securities LLC acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 596 shares of the company’s stock, valued at approximately $26,000.

Several other large investors have also recently bought and sold shares of CNM. ORG Wealth Partners LLC bought a new stake in shares of Core & Main during the third quarter worth about $31,000. GAMMA Investing LLC grew its holdings in Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after acquiring an additional 511 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new position in Core & Main in the 2nd quarter valued at approximately $76,000. CWM LLC raised its stake in shares of Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after acquiring an additional 334 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Core & Main during the third quarter worth $93,000. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CNM shares. Bank of America lowered 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. Wells Fargo & Company began 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. Loop Capital decreased their target price on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Truist Financial dropped their price target on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Core & Main Stock Performance

Shares of CNM opened at $41.90 on Friday. Core & Main, Inc. has a one year low of $33.38 and a one year high of $62.15. The company has a market cap of $8.43 billion, a PE ratio of 20.28, a P/E/G ratio of 2.75 and a beta of 1.02. The stock has a 50-day moving average of $43.56 and a 200-day moving average of $49.39. 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) last announced its quarterly earnings data 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 period last year, the business posted $0.66 EPS. The company’s revenue was up 5.5% on a year-over-year basis. On average, equities research analysts predict that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

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.