Raiffeisen Bank International AG Buys 18,000 Shares of Core & Main, Inc. $CNM

Raiffeisen Bank International AG boosted its stake in Core & Main, Inc. (NYSE:CNM) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 497,051 shares of the company’s stock after purchasing an additional 18,000 shares during the quarter. Raiffeisen Bank International AG’s holdings in Core & Main were worth $26,657,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position 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 buying an additional 269 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Core & Main by 815.7% in 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 last quarter. Cubist Systematic Strategies LLC raised 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 in the last quarter. Rothschild Investment LLC lifted its stake in Core & Main by 5,013.3% during the third quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock worth $41,000 after purchasing an additional 752 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in Core & Main by 47.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock worth $52,000 after purchasing an additional 311 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CNM shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $63.00 price target on shares of Core & Main in a research note on Friday, January 9th. 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 research note on Wednesday, January 14th. Barclays dropped their price objective on shares of Core & Main from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. Zacks Research downgraded Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Core & Main from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Seven investment 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, Core & Main has an average rating of “Moderate Buy” and an average price target of $62.00.

Core & Main Trading Down 0.6%

CNM opened at $56.30 on Friday. Core & Main, Inc. has a twelve month low of $43.17 and a twelve month high of $67.18. The company has a fifty day moving average of $55.74 and a 200-day moving average of $54.87. The stock has a market cap of $11.01 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 2.09 and a beta of 0.98. 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 results on Tuesday, December 9th. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.17. The firm had revenue of $2.06 billion during 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 business’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.69 EPS. On average, sell-side analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Core & Main declared that its board has authorized a stock repurchase program on Tuesday, December 9th that permits the company to buyback $500.00 million in shares. This buyback authorization permits 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 believes its shares are undervalued.

Core & Main Company 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.