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

ArrowMark Colorado Holdings LLC lowered its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 786,916 shares of the company’s stock after selling 35,387 shares during the period. ArrowMark Colorado Holdings LLC owned approximately 0.39% of Core & Main worth $34,939,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNM. QRG Capital Management Inc. raised its holdings in Core & Main by 1.9% in the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock worth $595,000 after buying an additional 228 shares during the last quarter. United Services Automobile Association boosted its stake in Core & Main by 2.0% during the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock valued at $651,000 after purchasing an additional 266 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of Core & Main by 3.5% in the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after purchasing an additional 294 shares during the last quarter. CWM LLC lifted 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 valued at $80,000 after purchasing an additional 334 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after buying an additional 511 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

NYSE:CNM opened at $48.55 on Monday. The stock has a 50-day moving average price of $44.72 and a 200 day moving average price of $48.27. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. Core & Main, Inc. has a 12-month low of $34.32 and a 12-month high of $62.15. The stock has a market capitalization of $9.76 billion, a P/E ratio of 23.23, a P/E/G ratio of 3.16 and a beta of 1.02.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNM. JPMorgan Chase & Co. dropped their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Truist Financial cut their target price 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. The Goldman Sachs Group dropped their price target on Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Loop Capital reduced their price objective 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, Royal Bank of Canada cut their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Core & Main Company 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.