Commerce Bank Has $593,000 Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Commerce Bank decreased its position in Core & Main, Inc. (NYSE:CNM) by 78.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,364 shares of the company’s stock after selling 49,305 shares during the quarter. Commerce Bank’s holdings in Core & Main were worth $593,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Core & Main during the third quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new stake in Core & Main during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC increased its holdings in Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in Core & Main in the 2nd quarter valued at $76,000. Finally, CWM LLC grew its holdings in shares of Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after purchasing an additional 334 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Trading Up 5.0 %

NYSE CNM opened at $47.55 on Tuesday. Core & Main, Inc. has a 12 month low of $34.02 and a 12 month high of $62.15. The stock has a 50-day simple moving average of $44.40 and a 200 day simple moving average of $48.54. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $9.56 billion, a PE ratio of 22.75, a P/E/G ratio of 2.95 and a beta of 1.02.

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

Analysts Set New Price Targets

A number of brokerages have commented on CNM. Bank of America lowered their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Truist Financial dropped their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. Robert W. Baird increased their price objective on Core & Main from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Loop Capital dropped their target price on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, September 5th. Finally, The Goldman Sachs Group decreased their price target on Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.