RPg Family Wealth Advisory LLC Makes New Investment in Core & Main, Inc. $CNM

RPg Family Wealth Advisory LLC acquired a new position in Core & Main, Inc. (NYSE:CNM) in the 3rd quarter, HoldingsChannel reports. The fund acquired 78,755 shares of the company’s stock, valued at approximately $4,239,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Johnson Investment Counsel Inc. increased its holdings in shares of Core & Main by 0.6% in the third quarter. Johnson Investment Counsel Inc. now owns 43,070 shares of the company’s stock worth $2,318,000 after purchasing an additional 244 shares during the period. Wedmont Private Capital increased its position in Core & Main by 5.6% during the 3rd quarter. Wedmont Private Capital now owns 4,733 shares of the company’s stock valued at $241,000 after purchasing an additional 251 shares during the period. EverSource Wealth Advisors LLC grew its stake in 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 purchasing an additional 269 shares during the period. ProShare Advisors LLC lifted its position in Core & Main by 3.6% during the 2nd quarter. ProShare Advisors LLC now owns 8,398 shares of the company’s stock valued at $507,000 after acquiring an additional 295 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of Core & Main by 11.0% in the 3rd quarter. UMB Bank n.a. now owns 3,006 shares of the company’s stock worth $162,000 after purchasing an additional 299 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Price Performance

Shares of CNM stock opened at $53.85 on Wednesday. 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 has a market cap of $10.53 billion, a P/E ratio of 23.72, a PEG ratio of 2.01 and a beta of 0.98. The stock’s 50-day moving average is $55.80 and its 200 day moving average is $54.26. Core & Main, Inc. has a 1-year low of $43.17 and a 1-year high of $67.18.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.17. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. Core & Main had a net margin of 5.60% and a return on equity of 24.63%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. Research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Core & Main declared that its board has initiated a stock buyback plan on Tuesday, December 9th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

CNM has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Robert W. Baird lifted their price target on shares of Core & Main from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. increased their target price on shares of Core & Main from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Zacks Research downgraded Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Finally, Citigroup lifted their price target on shares of Core & Main from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.00.

About Core & Main

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.