Core & Main, Inc. (NYSE:CNM) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its position in shares of Core & Main, Inc. (NYSE:CNM) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,015,867 shares of the company’s stock after selling 27,862 shares during the quarter. Janus Henderson Group PLC’s holdings in Core & Main were worth $222,733,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in CNM. QRG Capital Management Inc. boosted its stake in shares of Core & Main by 1.9% in the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock valued at $595,000 after buying an additional 228 shares in the last quarter. United Services Automobile Association boosted its position in shares of Core & Main by 2.0% during the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock worth $651,000 after purchasing an additional 266 shares in the last quarter. Andina Capital Management LLC grew its stake in shares of Core & Main by 3.5% during the 3rd quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after purchasing an additional 294 shares during the period. CWM LLC increased its holdings in shares of Core & Main by 25.6% in the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after purchasing an additional 334 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CNM shares. Loop Capital decreased their price objective on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Barclays decreased their price target on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. The Goldman Sachs Group dropped their price objective on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Robert W. Baird boosted their target price on Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Truist Financial lowered 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Stock Performance

NYSE CNM opened at $55.78 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. Core & Main, Inc. has a fifty-two week low of $35.03 and a fifty-two week high of $62.15. The business has a fifty day moving average of $44.80 and a 200-day moving average of $48.09. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.14 and a beta of 1.04.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 EPS. As a group, analysts predict that Core & Main, Inc. will post 2.1 earnings per share 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.