Fifth Third Wealth Advisors LLC Makes New $253,000 Investment in Core & Main, Inc. (NYSE:CNM)

Fifth Third Wealth Advisors LLC bought a new stake in shares of Core & Main, Inc. (NYSE:CNM) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,177 shares of the company’s stock, valued at approximately $253,000.

Several other large investors also recently modified their holdings of CNM. Rise Advisors LLC acquired a new position in Core & Main in the first quarter valued at about $27,000. Quadrant Capital Group LLC boosted its position in shares of Core & Main by 74.5% during the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares in the last quarter. ORG Partners LLC bought a new position in Core & Main in the first quarter valued at approximately $38,000. GAMMA Investing LLC acquired a new position in Core & Main during the fourth quarter valued at approximately $41,000. Finally, Principal Securities Inc. bought a new stake in Core & Main during the fourth quarter worth $43,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James G. Castellano sold 12,500 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $52.22, for a total value of $652,750.00. Following the sale, the director now directly owns 11,769 shares in the company, valued at $614,577.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.49% of the company’s stock.

Analysts Set New Price Targets

CNM has been the topic of several recent analyst reports. Truist Financial decreased their price target on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 target price on shares of Core & Main in a report on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.90.

Core & Main Trading Down 0.5 %

NYSE:CNM traded down $0.27 during mid-day trading on Thursday, hitting $51.23. 69,051 shares of the company’s stock were exchanged, compared to its average volume of 2,415,082. 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, Inc. has a fifty-two week low of $27.75 and a fifty-two week high of $62.15. The company has a 50 day simple moving average of $50.46 and a 200-day simple moving average of $52.35. The firm has a market capitalization of $10.32 billion, a P/E ratio of 24.07, a PEG ratio of 1.92 and a beta of 1.06.

Core & Main (NYSE:CNM) last issued 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). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 EPS. As a group, research analysts expect that Core & Main, Inc. will post 2.32 earnings per share for the current year.

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.