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

Janus Henderson Group PLC decreased its holdings in Core & Main, Inc. (NYSE:CNM) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,015,867 shares of the company’s stock after selling 27,862 shares during the period. Janus Henderson Group PLC owned about 2.49% of Core & Main worth $222,733,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Select Equity Group L.P. grew its stake in Core & Main by 0.3% during the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock worth $754,986,000 after purchasing an additional 39,475 shares in the last quarter. FMR LLC raised its position in Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after purchasing an additional 1,903,280 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Core & Main by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after buying an additional 41,521 shares during the period. Anomaly Capital Management LP grew its position in shares of Core & Main by 35.9% during the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock worth $176,601,000 after buying an additional 953,489 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Core & Main by 34.0% during the third quarter. Handelsbanken Fonder AB now owns 2,985,529 shares of the company’s stock worth $132,557,000 after buying an additional 757,000 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

CNM stock opened at $55.78 on Wednesday. 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 company has a market capitalization of $11.22 billion, a P/E ratio of 26.69, a PEG ratio of 3.14 and a beta of 1.04. The business has a 50 day simple moving average of $44.80 and a 200-day simple moving average of $48.09. Core & Main, Inc. has a twelve month low of $35.03 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 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 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.65 EPS. As a group, equities analysts anticipate that Core & Main, Inc. will post 2.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Core & Main in a research note on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target for the company. Bank of America decreased their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Royal Bank of Canada dropped their target price on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Truist Financial decreased their price target on Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Finally, Loop Capital dropped their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Core & Main currently has an average rating of “Moderate Buy” and an average price target of $51.20.

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.