Empowered Funds LLC Has $4.47 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Empowered Funds LLC lifted its stake in Core & Main, Inc. (NYSE:CNM) by 10.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 100,681 shares of the company’s stock after purchasing an additional 9,848 shares during the quarter. Empowered Funds LLC’s holdings in Core & Main were worth $4,470,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main in the 3rd quarter worth approximately $31,000. GAMMA Investing LLC grew its position 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 purchasing an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in Core & Main during the 2nd quarter worth approximately $76,000. Finally, CWM LLC raised its stake in Core & Main by 25.6% during 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 during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of Core & Main stock opened at $42.51 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The company has a market cap of $8.55 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 2.77 and a beta of 1.02. The firm has a fifty day moving average price of $43.72 and a two-hundred day moving average price of $49.13. Core & Main, Inc. has a fifty-two week low of $33.47 and a fifty-two week high of $62.15.

Core & Main (NYSE:CNM) last released its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the business earned $0.66 earnings per share. Analysts expect that Core & Main, Inc. will post 2.1 EPS for the current year.

Analyst Upgrades and Downgrades

CNM has been the topic of a number of research analyst reports. Wells Fargo & Company began coverage on Core & Main in a report on Monday, September 23rd. They set an “overweight” rating and a $52.00 price target on the stock. Barclays decreased their price objective on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Thursday, September 5th. Loop Capital reduced their target price on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a 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. decreased their price objective on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and a consensus target price of $51.20.

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.