ArrowMark Colorado Holdings LLC Sells 35,387 Shares of Core & Main, Inc. (NYSE:CNM)

ArrowMark Colorado Holdings LLC trimmed its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 786,916 shares of the company’s stock after selling 35,387 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Core & Main were worth $34,939,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Comerica Bank lifted its stake in shares of Core & Main by 30.9% in the 1st quarter. Comerica Bank now owns 67,754 shares of the company’s stock valued at $3,879,000 after purchasing an additional 16,009 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Core & Main by 51.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 52,900 shares of the company’s stock worth $3,029,000 after buying an additional 17,911 shares during the last quarter. DNB Asset Management AS boosted its stake in Core & Main by 14.2% during the second quarter. DNB Asset Management AS now owns 44,989 shares of the company’s stock worth $2,201,000 after buying an additional 5,594 shares during the period. CWM LLC increased its position in Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after acquiring an additional 334 shares during the last quarter. Finally, Renaissance Capital LLC raised its stake in shares of Core & Main by 30.6% in the second quarter. Renaissance Capital LLC now owns 149,057 shares of the company’s stock valued at $7,295,000 after acquiring an additional 34,904 shares during the period. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Up 3.1 %

Shares of Core & Main stock opened at $48.55 on Monday. 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 stock has a market cap of $9.76 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 3.16 and a beta of 1.02. The firm’s 50-day moving average is $44.72 and its two-hundred day moving average is $48.27. Core & Main, Inc. has a 1 year low of $34.32 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. As a group, research analysts expect that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CNM shares. Truist Financial dropped their price target on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, September 5th. Loop Capital decreased their price target on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Bank of America cut their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group decreased their target price on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Barclays lowered their target price on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.20.

Core & Main 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.