Douglass Winthrop Advisors LLC Has $3.12 Million Stock Position in Core & Main, Inc. (NYSE:CNM)

Douglass Winthrop Advisors LLC raised its holdings in Core & Main, Inc. (NYSE:CNM) by 23.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 70,272 shares of the company’s stock after acquiring an additional 13,263 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Core & Main were worth $3,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNM. Select Equity Group L.P. lifted its position in shares of 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 valued at $754,986,000 after acquiring an additional 39,475 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after purchasing an additional 41,521 shares during the period. Anomaly Capital Management LP boosted its position in shares of Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock worth $176,601,000 after purchasing an additional 953,489 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Core & Main by 34.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,985,529 shares of the company’s stock valued at $132,557,000 after buying an additional 757,000 shares during the period. Finally, Royal London Asset Management Ltd. increased its position in Core & Main by 11.0% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,688,455 shares of the company’s stock valued at $131,573,000 after buying an additional 266,935 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Up 1.6 %

Core & Main stock opened at $45.27 on Monday. Core & Main, Inc. has a fifty-two week low of $34.02 and a fifty-two week high of $62.15. The firm’s 50-day simple moving average is $44.27 and its 200 day simple moving average is $48.62. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29. The stock has a market cap of $9.11 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02.

Core & Main (NYSE:CNM) last released its 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 business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. Research analysts predict that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Truist Financial cut their price target on Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Royal Bank of Canada reduced their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. The Goldman Sachs Group dropped their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. 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. Finally, Bank of America lowered their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. One research 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, the company currently has a consensus 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.