Douglass Winthrop Advisors LLC Acquires 13,263 Shares of Core & Main, Inc. (NYSE:CNM)

Douglass Winthrop Advisors LLC grew its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 23.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,272 shares of the company’s stock after purchasing an additional 13,263 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Core & Main were worth $3,120,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CNM. Price T Rowe Associates Inc. MD grew its holdings in shares of Core & Main by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,566,745 shares of the company’s stock worth $89,697,000 after purchasing an additional 375,311 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Core & Main during the first quarter worth about $1,099,000. Public Employees Retirement System of Ohio increased its holdings in Core & Main by 18.2% in the 1st quarter. Public Employees Retirement System of Ohio now owns 82,755 shares of the company’s stock valued at $4,738,000 after buying an additional 12,755 shares during the period. Caxton Associates LP raised its position in shares of Core & Main by 69.3% in the 1st quarter. Caxton Associates LP now owns 27,419 shares of the company’s stock valued at $1,570,000 after buying an additional 11,226 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Core & Main by 12.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 131,084 shares of the company’s stock worth $7,505,000 after acquiring an additional 14,589 shares during the period. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Up 1.6 %

Shares of NYSE:CNM opened at $45.27 on Monday. The firm has a market cap of $9.11 billion, a P/E ratio of 21.66, a P/E/G ratio of 2.95 and a beta of 1.02. Core & Main, Inc. has a 12-month low of $34.02 and a 12-month high of $62.15. The business has a fifty day simple moving average of $44.27 and a 200 day simple moving average of $48.62. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. Core & Main’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. Analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNM shares. Barclays decreased their price target on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. The Goldman Sachs Group dropped their target price on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Royal Bank of Canada dropped their price objective on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Wells Fargo & Company started coverage on shares of Core & Main in a research note on Monday, September 23rd. They set an “overweight” rating and a $52.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.