Blackhawk Capital Partners LLC Has $447,000 Position in Core & Main, Inc. $CNM

Blackhawk Capital Partners LLC lowered its stake in shares of Core & Main, Inc. (NYSE:CNM) by 80.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,302 shares of the company’s stock after selling 33,659 shares during the quarter. Blackhawk Capital Partners LLC’s holdings in Core & Main were worth $447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNM. EverSource Wealth Advisors LLC lifted its stake in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in Core & Main by 815.7% during the second quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock valued at $39,000 after acquiring an additional 571 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Core & Main by 47.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock valued at $52,000 after purchasing an additional 311 shares during the last quarter. Finally, Steph & Co. bought a new position in shares of Core & Main in the second quarter worth about $53,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Trading Down 0.8%

Shares of Core & Main stock opened at $58.59 on Friday. Core & Main, Inc. has a 52-week low of $43.17 and a 52-week high of $67.18. The firm has a market capitalization of $11.45 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 2.35 and a beta of 0.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.26 and a quick ratio of 1.35. The company’s fifty day moving average price is $52.77 and its two-hundred day moving average price is $55.81.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 9th. The company reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. Core & Main had a net margin of 5.60% and a return on equity of 24.63%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.69 EPS. On average, analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Core & Main declared that its board has approved a stock buyback program on Tuesday, December 9th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNM. Robert W. Baird raised their target price on Core & Main from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Core & Main from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a $63.00 target price on shares of Core & Main in a research note on Friday, January 9th. UBS Group initiated coverage on shares of Core & Main in a research report on Monday, September 29th. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Core & Main from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Core & Main Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.