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

UniSuper Management Pty Ltd raised its stake in Core & Main, Inc. (NYSE:CNM) by 35.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 68,086 shares of the company’s stock after buying an additional 17,967 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Core & Main were worth $3,665,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CNM. Cubist Systematic Strategies LLC raised its holdings in shares of Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares in the last quarter. AQR Capital Management LLC acquired a new position in Core & Main in the 1st quarter worth about $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Core & Main by 36.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock worth $1,719,000 after purchasing an additional 9,534 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after purchasing an additional 54,854 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Core & Main during the 2nd quarter valued at about $231,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CNM. JPMorgan Chase & Co. increased their price objective on Core & Main from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Wells Fargo & Company raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $63.00 target price on shares of Core & Main in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised their target price on Core & Main from $63.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, UBS Group began coverage on Core & Main in a research note on Monday, September 29th. They set a “buy” rating and a $65.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Core & Main Stock Performance

Shares of CNM opened at $57.16 on Tuesday. The company has a market capitalization of $11.18 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 2.33 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. Core & Main, Inc. has a one year low of $43.17 and a one year high of $67.18. The company’s fifty day moving average price is $53.01 and its 200 day moving average price is $55.68.

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

Core & Main announced that its board has authorized a stock repurchase plan on Tuesday, December 9th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.