Assetmark Inc. lifted its holdings in Core & Main, Inc. (NYSE:CNM – Get Rating) by 33.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,158 shares of the company’s stock after acquiring an additional 545 shares during the period. Assetmark Inc.’s holdings in Core & Main were worth $49,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Jackson Creek Investment Advisors LLC bought a new position in shares of Core & Main in the 2nd quarter valued at about $374,000. Natixis Advisors L.P. lifted its holdings in shares of Core & Main by 14.9% in the 2nd quarter. Natixis Advisors L.P. now owns 230,406 shares of the company’s stock valued at $5,138,000 after acquiring an additional 29,795 shares during the last quarter. Pendal Group Ltd lifted its holdings in shares of Core & Main by 36.1% in the 3rd quarter. Pendal Group Ltd now owns 117,155 shares of the company’s stock valued at $2,664,000 after acquiring an additional 31,102 shares during the last quarter. Tortoise Index Solutions LLC bought a new position in shares of Core & Main in the 2nd quarter valued at about $317,000. Finally, Alpha DNA Investment Management LLC bought a new position in shares of Core & Main in the 2nd quarter valued at about $991,000. Institutional investors own 95.16% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on CNM. The Goldman Sachs Group lowered their price target on shares of Core & Main from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, December 15th. Royal Bank of Canada raised their price objective on shares of Core & Main from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Core & Main from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 10th. Citigroup decreased their price objective on shares of Core & Main from $26.00 to $22.00 and set a “neutral” rating for the company in a research note on Friday, December 16th. Finally, Credit Suisse Group decreased their price objective on shares of Core & Main from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, December 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.22.
Core & Main Stock Performance
Core & Main (NYSE:CNM – Get Rating) last issued its quarterly earnings data on Tuesday, December 13th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Core & Main had a net margin of 5.52% and a return on equity of 22.01%. As a group, equities analysts predict that Core & Main, Inc. will post 2.15 EPS 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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.
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