Chesapeake Capital Corp IL Has $421,000 Holdings in Core & Main, Inc. (NYSE:CNM)

Chesapeake Capital Corp IL lowered its stake in shares of Core & Main, Inc. (NYSE:CNM) by 51.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,600 shares of the company’s stock after selling 9,100 shares during the period. Chesapeake Capital Corp IL’s holdings in Core & Main were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CNM. Royal London Asset Management Ltd. increased its stake in Core & Main by 11.0% in the second quarter. Royal London Asset Management Ltd. now owns 2,688,455 shares of the company’s stock valued at $131,573,000 after purchasing an additional 266,935 shares in the last quarter. United Services Automobile Association increased its holdings in shares of Core & Main by 2.0% in the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock worth $651,000 after acquiring an additional 266 shares in the last quarter. Trium Capital LLP lifted its holdings in shares of Core & Main by 7.7% during the 2nd quarter. Trium Capital LLP now owns 27,959 shares of the company’s stock valued at $1,368,000 after purchasing an additional 2,003 shares in the last quarter. Caprock Group LLC lifted its stake in Core & Main by 57.5% in the second quarter. Caprock Group LLC now owns 5,839 shares of the company’s stock valued at $286,000 after buying an additional 2,131 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Core & Main by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 53,825 shares of the company’s stock worth $2,634,000 after purchasing an additional 1,152 shares during the period. 94.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

CNM has been the subject of a number of analyst reports. Loop Capital decreased their target price on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Robert W. Baird decreased their price objective on shares of Core & Main from $62.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Bank of America dropped their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Truist Financial lowered their price target on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Barclays lowered their price target on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $49.30.

Core & Main Stock Performance

Shares of Core & Main stock opened at $38.32 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The company has a market cap of $7.72 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.41 and a beta of 1.04. The business has a 50 day moving average price of $49.46 and a 200-day moving average price of $52.65. Core & Main, Inc. has a 52 week low of $27.75 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the firm posted $0.66 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the transaction, the director now owns 11,769 shares of the company’s stock, valued at approximately $614,577.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.49% of the company’s stock.

Core & Main Company 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.