Pinebridge Investments L.P. Buys Shares of 8,242 Core & Main, Inc. (NYSE:CNM)

Pinebridge Investments L.P. acquired a new position in Core & Main, Inc. (NYSE:CNMGet Rating) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,242 shares of the company’s stock, valued at approximately $250,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sonen Capital LLC bought a new stake in shares of Core & Main in the 4th quarter worth approximately $353,000. Principal Financial Group Inc. lifted its holdings in shares of Core & Main by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 1,256,804 shares of the company’s stock worth $38,131,000 after acquiring an additional 20,100 shares during the last quarter. Baird Financial Group Inc. bought a new stake in shares of Core & Main in the 4th quarter worth approximately $663,000. Shell Asset Management Co. bought a new stake in shares of Core & Main in the 4th quarter worth approximately $228,000. Finally, Natixis Advisors L.P. lifted its holdings in shares of Core & Main by 19.7% in the 4th quarter. Natixis Advisors L.P. now owns 37,358 shares of the company’s stock worth $1,133,000 after acquiring an additional 6,156 shares during the last quarter. Hedge funds and other institutional investors own 95.48% of the company’s stock.

Shares of Core & Main stock opened at $22.10 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.11 and a quick ratio of 1.09. The company’s fifty day simple moving average is $23.51 and its two-hundred day simple moving average is $25.02. Core & Main, Inc. has a 12-month low of $20.00 and a 12-month high of $32.54.

Core & Main (NYSE:CNMGet Rating) last issued its quarterly earnings data on Wednesday, March 30th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Core & Main’s quarterly revenue was up 49.9% on a year-over-year basis. On average, equities analysts expect that Core & Main, Inc. will post 1.27 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Core & Main from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Friday, April 1st. Truist Financial lowered their price target on shares of Core & Main from $32.00 to $28.00 and set a “hold” rating for the company in a report on Thursday, March 31st. Bank of America lowered shares of Core & Main from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $31.00 to $25.00 in a report on Thursday, February 17th. Royal Bank of Canada lowered their price target on shares of Core & Main from $33.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, March 31st. Finally, Barclays upgraded shares of Core & Main from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $32.00 to $34.00 in a report on Thursday, March 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.69.

Core & Main Profile (Get Rating)

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.

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Institutional Ownership by Quarter for Core & Main (NYSE:CNM)

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