UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $30.62 Million Stake in Core & Main, Inc. (NYSE:CNM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Core & Main, Inc. (NYSE:CNM) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 689,739 shares of the company’s stock after selling 5,758 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.34% of Core & Main worth $30,624,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. FMR LLC boosted its holdings in Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of Core & Main by 373.0% in the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock valued at $89,416,000 after purchasing an additional 1,588,117 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Core & Main by 37.1% during the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock worth $205,974,000 after buying an additional 1,137,817 shares during the period. Anomaly Capital Management LP raised its stake in 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 during the last quarter. Finally, Fernbridge Capital Management LP acquired a new position in Core & Main in the second quarter valued at $40,447,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 0.9 %

Shares of NYSE CNM opened at $55.26 on Thursday. 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 50-day moving average price of $45.03 and a 200-day moving average price of $48.06. The stock has a market capitalization of $11.11 billion, a P/E ratio of 26.17, a P/E/G ratio of 3.14 and a beta of 1.04. Core & Main, Inc. has a 1 year low of $35.03 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities research analysts forecast that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. The Goldman Sachs Group decreased their price target on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a report on Wednesday. Barclays increased their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company assumed coverage on shares of Core & Main in a research note on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price objective for the company. Finally, Robert W. Baird raised their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.30.

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.