UniSuper Management Pty Ltd Has $3.67 Million Holdings in Core & Main, Inc. $CNM

UniSuper Management Pty Ltd raised its stake in Core & Main, Inc. (NYSE:CNM) by 35.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,086 shares of the company’s stock after purchasing an additional 17,967 shares during the period. UniSuper Management Pty Ltd’s holdings in Core & Main were worth $3,665,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC lifted its stake in shares of Core & Main by 41.7% in the third quarter. Jennison Associates LLC now owns 2,087,166 shares of the company’s stock valued at $112,352,000 after buying an additional 614,595 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Core & Main by 46.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 33,377 shares of the company’s stock valued at $1,797,000 after acquiring an additional 10,561 shares in the last quarter. Amalgamated Bank raised its holdings in Core & Main by 0.9% in the 3rd quarter. Amalgamated Bank now owns 89,953 shares of the company’s stock valued at $4,842,000 after acquiring an additional 806 shares in the last quarter. Lmcg Investments LLC lifted its position in shares of Core & Main by 0.6% in the 3rd quarter. Lmcg Investments LLC now owns 104,013 shares of the company’s stock worth $5,599,000 after acquiring an additional 663 shares during the period. Finally, Bfsg LLC grew its holdings in shares of Core & Main by 457.5% during the 3rd quarter. Bfsg LLC now owns 3,122 shares of the company’s stock worth $168,000 after purchasing an additional 2,562 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Trading Down 2.4%

Shares of Core & Main stock opened at $57.16 on Tuesday. Core & Main, Inc. has a 12-month low of $43.17 and a 12-month high of $67.18. The stock has a market capitalization of $11.18 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 2.33 and a beta of 0.98. The company has a 50-day simple moving average of $53.01 and a 200 day simple moving average of $55.68. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 1.04.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Core & Main had a net margin of 5.60% and a return on equity of 24.63%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Core & Main declared that its Board of Directors has initiated a stock buyback plan on Tuesday, December 9th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Barclays cut their target price on Core & Main from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. Robert W. Baird increased their price objective on shares of Core & Main from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. UBS Group initiated coverage on shares of Core & Main in a research note on Monday, September 29th. They issued a “buy” rating and a $65.00 target price on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $63.00 price target on shares of Core & Main in a research note on Friday, January 9th. Finally, Citigroup upped their price objective on Core & Main from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.