Legal & General Group Plc Boosts Holdings in Core & Main, Inc. $CNM

Legal & General Group Plc grew its position in Core & Main, Inc. (NYSE:CNM) by 8.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 637,186 shares of the company’s stock after purchasing an additional 50,195 shares during the quarter. Legal & General Group Plc owned about 0.32% of Core & Main worth $38,454,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Enhancing Capital LLC boosted its position in shares of Core & Main by 0.6% in the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company’s stock worth $1,538,000 after purchasing an additional 196 shares in the last quarter. Bfsg LLC increased its position in Core & Main by 56.4% during the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after buying an additional 202 shares in the last quarter. CWM LLC raised its stake in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after buying an additional 213 shares during the last quarter. Simon Quick Advisors LLC boosted its holdings in Core & Main by 1.7% in the second quarter. Simon Quick Advisors LLC now owns 16,186 shares of the company’s stock worth $977,000 after acquiring an additional 272 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Core & Main by 3.6% during the second quarter. ProShare Advisors LLC now owns 8,398 shares of the company’s stock worth $507,000 after acquiring an additional 295 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Up 2.1%

CNM stock opened at $48.04 on Thursday. The firm’s fifty day simple moving average is $50.69 and its 200-day simple moving average is $56.60. The company has a market capitalization of $9.48 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.84 and a beta of 0.98. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.30. Core & Main, Inc. has a 12 month low of $43.17 and a 12 month high of $67.18.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s revenue was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CNM. Zacks Research raised shares of Core & Main from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. The Goldman Sachs Group cut their price target on shares of Core & Main from $68.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, September 12th. Truist Financial decreased their price target on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, September 11th. Royal Bank Of Canada dropped their price objective on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, September 10th. Finally, Wells Fargo & Company upped their target price on Core & Main from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and an average target price of $60.64.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.