Core & Main, Inc. $CNM Position Cut by Skandinaviska Enskilda Banken AB publ

by · The Cerbat Gem

Skandinaviska Enskilda Banken AB publ decreased its position in shares of Core & Main, Inc. (NYSE:CNM – Free Report) by 99.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,099 shares of the company’s stock after selling 615,701 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Core & Main were worth $308,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CNM. Bfsg LLC lifted its position in Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in shares of Core & Main by 262.0% in 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 period. Hantz Financial Services Inc. raised its holdings in shares of Core & Main by 815.7% during the second quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock valued at $39,000 after buying an additional 571 shares during the last quarter. Steph & Co. acquired a new position in shares of Core & Main during the second quarter worth approximately $53,000. Finally, Summit Securities Group LLC acquired a new position in shares of Core & Main during the first quarter worth approximately $72,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of analyst reports. Citigroup reduced their price target on Core & Main from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, September 10th. Royal Bank Of Canada reduced their price objective on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, September 10th. JPMorgan Chase & Co. raised their target price on shares of Core & Main from $54.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Barclays dropped their price target on shares of Core & Main from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, UBS Group initiated coverage on shares of Core & Main in a report on Monday, September 29th. They issued a “buy” rating and a $65.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.45.

Get Our Latest Stock Analysis on Core & Main

Core & Main Price Performance

NYSE:CNM opened at $48.96 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. The business’s 50-day moving average price is $50.51 and its 200 day moving average price is $56.48. Core & Main, Inc. has a 52-week low of $43.17 and a 52-week high of $67.18. The firm has a market cap of $9.67 billion, a P/E ratio of 21.86, a PEG ratio of 1.91 and a beta of 0.98.

Core & Main (NYSE:CNM – Get Free Report) last announced its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

About Core & Main

(Free Report)

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.

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