KBC Group NV Has $60.34 Million Position in Core & Main, Inc. (NYSE:CNM)

KBC Group NV grew its position in Core & Main, Inc. (NYSE:CNM) by 7.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,358,955 shares of the company’s stock after purchasing an additional 98,992 shares during the period. KBC Group NV owned about 0.68% of Core & Main worth $60,338,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CNM. American International Group Inc. grew its position in Core & Main by 22.3% during the 1st quarter. American International Group Inc. now owns 225,823 shares of the company’s stock worth $12,928,000 after acquiring an additional 41,229 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Core & Main by 60.6% during the first quarter. Lord Abbett & CO. LLC now owns 836,211 shares of the company’s stock worth $47,873,000 after purchasing an additional 315,411 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Core & Main by 370.9% in the first quarter. Lazard Asset Management LLC now owns 273,561 shares of the company’s stock valued at $15,661,000 after buying an additional 215,472 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Core & Main by 31.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,566,745 shares of the company’s stock valued at $89,697,000 after buying an additional 375,311 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Core & Main by 35.9% during the 1st quarter. Advisors Asset Management Inc. now owns 45,940 shares of the company’s stock worth $2,630,000 after buying an additional 12,139 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CNM shares. Truist Financial lowered their price objective 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. Robert W. Baird boosted their price objective on shares of Core & Main from $53.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lowered their target price on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company initiated coverage on Core & Main in a research note on Monday, September 23rd. They set an “overweight” rating and a $52.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $51.20.

Core & Main Price Performance

Core & Main stock opened at $42.38 on Thursday. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $8.52 billion, a P/E ratio of 20.28, a PEG ratio of 2.75 and a beta of 1.02. The business has a 50-day moving average of $43.56 and a 200-day moving average of $49.39. Core & Main, Inc. has a 1 year low of $32.45 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last announced 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). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. Core & Main’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. On average, equities analysts anticipate that Core & Main, Inc. will post 2.1 EPS for the current 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.