RPg Family Wealth Advisory LLC Takes Position in Core & Main, Inc. $CNM

RPg Family Wealth Advisory LLC acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 78,755 shares of the company’s stock, valued at approximately $4,239,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNM. Johnson Investment Counsel Inc. grew its stake 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 acquiring an additional 244 shares during the last quarter. Wedmont Private Capital raised its position in shares of Core & Main by 5.6% during the third quarter. Wedmont Private Capital now owns 4,733 shares of the company’s stock valued at $241,000 after buying an additional 251 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares during the period. ProShare Advisors LLC grew its position in Core & Main by 3.6% during the second quarter. ProShare Advisors LLC now owns 8,398 shares of the company’s stock worth $507,000 after buying an additional 295 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Core & Main by 11.0% during the third quarter. UMB Bank n.a. now owns 3,006 shares of the company’s stock valued at $162,000 after acquiring an additional 299 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Down 1.5%

Shares of CNM stock opened at $53.85 on Wednesday. The firm has a market capitalization of $10.53 billion, a P/E ratio of 23.72, a PEG ratio of 2.01 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 firm’s fifty day moving average price is $55.80 and its two-hundred day moving average price is $54.26. The company has a current ratio of 2.26, a quick ratio of 1.35 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 $0.89 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.17. Core & Main had a net margin of 5.60% and a return on equity of 24.63%. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CNM. Barclays lowered their price objective on Core & Main from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Zacks Research lowered shares of Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. JPMorgan Chase & Co. raised their price target on shares of Core & Main from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Wells Fargo & Company lifted their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Robert W. Baird increased their target price on Core & Main from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Core & Main has a consensus 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.