BankPlus Trust Department Purchases New Holdings in Core & Main, Inc. $CNM

BankPlus Trust Department bought a new stake in Core & Main, Inc. (NYSE:CNM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,000 shares of the company’s stock, valued at approximately $830,000.

Several other large investors have also recently bought and sold shares of CNM. Renaissance Technologies LLC acquired a new position in shares of Core & Main in the 1st quarter valued at approximately $40,217,000. First Trust Advisors LP increased its stake in Core & Main by 15.3% in the first quarter. First Trust Advisors LP now owns 6,130,840 shares of the company’s stock valued at $302,863,000 after purchasing an additional 812,770 shares in the last quarter. Bornite Capital Management LP acquired a new position in shares of Core & Main during the second quarter worth approximately $36,622,000. Boston Trust Walden Corp raised its position in Core & Main by 177.8% in the 3rd quarter. Boston Trust Walden Corp now owns 439,722 shares of the company’s stock valued at $18,240,000 after buying an additional 281,441 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its position in Core & Main by 818.0% in the first quarter. Edgestream Partners L.P. now owns 201,577 shares of the company’s stock worth $9,958,000 after purchasing an additional 179,618 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNM. Northcoast Research cut Core & Main from a “buy” rating to a “neutral” rating in a report on Wednesday, August 26th. Citigroup decreased their target price on shares of Core & Main from $53.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, September 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $53.00 price target on shares of Core & Main in a report on Thursday, September 10th. Royal Bank Of Canada reduced their price target on shares of Core & Main from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Finally, Truist Financial decreased their price target on shares of Core & Main from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Thursday, September 10th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.09.

Core & Main Trading Up 0.8%

Shares of CNM opened at $44.99 on Friday. Core & Main, Inc. has a 1-year low of $39.42 and a 1-year high of $59.66. The company has a market capitalization of $8.57 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.80 and a beta of 0.91. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.47 and a quick ratio of 1.51. The firm’s 50 day simple moving average is $42.80 and its 200 day simple moving average is $47.45.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.03. Core & Main had a net margin of 5.96% and a return on equity of 25.98%. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the company posted $0.87 EPS. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Sell-side analysts forecast that Core & Main, Inc. will post 2.97 earnings per share for the current fiscal year.

Core & Main Profile

Core & Main, Inc. is a distributor of products and services used in water, wastewater, storm drainage, and fire protection infrastructure. Its customers include municipalities, water utilities, contractors, and other commercial and industrial organizations. The company offers products such as pipe, valves, fittings, hydrants, meters, and related supplies. It also provides services supporting infrastructure projects, including product fabrication and technical assistance. Based in St. Louis, Missouri, Core & Main serves customers across the United States through a network of branches.