Plato Investment Management Ltd Has $40,000 Stake in Core & Main, Inc. (NYSE:CNM)

Plato Investment Management Ltd lowered its position in Core & Main, Inc. (NYSE:CNM) by 77.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 896 shares of the company’s stock after selling 3,111 shares during the quarter. Plato Investment Management Ltd’s holdings in Core & Main were worth $40,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNM. Ashton Thomas Securities LLC bought a new position in Core & Main during the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in shares of Core & Main during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC raised its stake in 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 acquiring an additional 511 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in Core & Main during the 2nd quarter valued at $76,000. Finally, CWM LLC boosted its position in Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after purchasing an additional 334 shares during the period. Institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CNM. Robert W. Baird lifted their target price on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Bank of America dropped their price target on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. decreased their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Truist Financial reduced their target price on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Finally, Royal Bank of Canada lowered their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Stock Performance

NYSE CNM opened at $42.52 on Friday. The firm’s 50 day simple moving average is $43.72 and its 200 day simple moving average is $49.23. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 2.76 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. Core & Main, Inc. has a 1 year low of $33.47 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, research analysts expect 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.