Liontrust Investment Partners LLP Lowers Position in Core & Main, Inc. $CNM

Liontrust Investment Partners LLP decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,992,800 shares of the company’s stock after selling 117,892 shares during the period. Core & Main makes up about 1.7% of Liontrust Investment Partners LLP’s holdings, making the stock its 21st largest holding. Liontrust Investment Partners LLP’s holdings in Core & Main were worth $120,265,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CNM. EverSource Wealth Advisors LLC raised its holdings in shares of Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. Bfsg LLC raised its stake in Core & Main by 56.4% in the second quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Core & Main by 815.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock worth $39,000 after buying an additional 571 shares in the last quarter. Finally, Steph & Co. bought a new position in shares of Core & Main in the 2nd quarter worth $53,000. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CNM shares. Deutsche Bank Aktiengesellschaft increased their target price on Core & Main from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank Of Canada reduced their price objective on Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 10th. JPMorgan Chase & Co. raised their price objective on Core & Main from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday. 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. Finally, Wells Fargo & Company increased their price target on shares of Core & Main from $55.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.82.

Core & Main Trading Down 1.4%

NYSE CNM opened at $56.02 on Friday. The firm has a market cap of $11.06 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 2.19 and a beta of 0.98. Core & Main, Inc. has a 1-year low of $43.17 and a 1-year high of $67.18. The stock has a 50-day moving average of $50.52 and a 200-day moving average of $56.41. The company has a current ratio of 2.26, a quick ratio of 1.30 and a debt-to-equity ratio of 1.04.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $0.72 EPS for the quarter, hitting analysts’ consensus estimates of $0.72. Core & Main had a return on equity of 24.63% and a net margin of 5.60%.The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Core & Main announced that its board has approved a share buyback plan on Tuesday, December 9th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Core & Main Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.