Ellsworth Advisors LLC Purchases 154,690 Shares of Core & Main, Inc. $CNM

Ellsworth Advisors LLC acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) during the 3rd quarter, Holdings Channel reports. The fund acquired 154,690 shares of the company’s stock, valued at approximately $6,417,000.

Several other hedge funds have also made changes to their positions in the business. Fifth Third Wealth Advisors LLC increased its stake in Core & Main by 4.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock valued at $283,000 after purchasing an additional 261 shares during the last quarter. State of Michigan Retirement System lifted its position in Core & Main by 0.7% during the first quarter. State of Michigan Retirement System now owns 45,400 shares of the company’s stock worth $2,243,000 after buying an additional 300 shares during the period. Root Financial Partners LLC boosted its stake in Core & Main by 111.6% in the 1st quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock worth $44,000 after buying an additional 472 shares during the last quarter. Bryn Mawr Trust Advisors LLC boosted its stake in Core & Main by 7.4% in the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 6,954 shares of the company’s stock worth $344,000 after buying an additional 478 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its stake in Core & Main by 12.7% in the 1st quarter. Granite Investment Partners LLC now owns 5,751 shares of the company’s stock worth $284,000 after buying an additional 648 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CNM shares. Robert W. Baird dropped their price objective on shares of Core & Main from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, September 10th. Zacks Research lowered shares of Core & Main from a “hold” rating to a “strong sell” rating in a report on Monday, September 14th. Barclays decreased their target price on shares of Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Wells Fargo & Company decreased their target price on shares of Core & Main from $65.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, September 10th. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of Core & Main in a report on Thursday, September 10th. Seven research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $54.40.

Core & Main Price Performance

Shares of Core & Main stock opened at $41.77 on Friday. The business’s fifty day moving average price is $43.02 and its 200 day moving average price is $46.27. Core & Main, Inc. has a twelve month low of $39.42 and a twelve month high of $59.66. The company has a current ratio of 2.47, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $7.96 billion, a P/E ratio of 17.19, a PEG ratio of 1.70 and a beta of 0.91.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.91 by $0.03. The company had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. Core & Main had a return on equity of 25.98% and a net margin of 5.96%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 earnings per share. As a group, research analysts anticipate that Core & Main, Inc. will post 3.00 earnings per share for the current year.

Core & Main Company Profile

Core & Main, Inc (NYSE: CNM) is a specialized distributor of infrastructure products serving the water, wastewater, storm drainage, fire protection and related utility markets. The company supplies products used to build, repair and maintain essential public and private infrastructure across the United States.

Its product portfolio includes ductile iron and plastic pipe, valves, hydrants, water meters, fittings, and other waterworks components. Core & Main also distributes stormwater drainage products, fire protection equipment and related solutions.