Fiera Capital Corp Buys 11,904 Shares of Core & Main, Inc. (NYSE:CNM)

Fiera Capital Corp grew its stake in Core & Main, Inc. (NYSE:CNM) by 7.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,250 shares of the company’s stock after acquiring an additional 11,904 shares during the quarter. Fiera Capital Corp owned 0.08% of Core & Main worth $7,941,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CNM. Rise Advisors LLC bought a new position in shares of Core & Main during the first quarter worth $27,000. ORG Partners LLC acquired a new stake in Core & Main during the 1st quarter worth approximately $38,000. Quadrant Capital Group LLC lifted its stake in Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after buying an additional 365 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Core & Main in the fourth quarter valued at approximately $43,000. Finally, CWM LLC boosted its holdings in shares of Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after buying an additional 334 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CNM shares. JPMorgan Chase & Co. cut their price objective on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday. Truist Financial cut their price target on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of Core & Main in a research report on Wednesday, June 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.70.

Core & Main Price Performance

NYSE:CNM opened at $46.81 on Wednesday. The stock has a market capitalization of $9.43 billion, a PE ratio of 21.87, a P/E/G ratio of 1.82 and a beta of 1.06. Core & Main, Inc. has a 1-year low of $27.75 and a 1-year high of $62.15. The firm has a fifty day simple moving average of $50.29 and a 200 day simple moving average of $52.83. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts expect that Core & Main, Inc. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the sale, the director now owns 11,769 shares of the company’s stock, valued at approximately $614,577.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.49% of the stock is owned by insiders.

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.