KBC Group NV Has $60.34 Million Holdings in Core & Main, Inc. (NYSE:CNM)

KBC Group NV boosted its stake in Core & Main, Inc. (NYSE:CNM) by 7.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,358,955 shares of the company’s stock after acquiring an additional 98,992 shares during the quarter. KBC Group NV’s holdings in Core & Main were worth $60,338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC bought a new stake in shares of Core & Main in the third quarter valued at about $26,000. ORG Wealth Partners LLC acquired a new stake in Core & Main in the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC lifted its stake in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after acquiring an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in Core & Main during the 2nd quarter worth approximately $76,000. Finally, CWM LLC grew its stake in shares of Core & Main by 25.6% during the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after acquiring an additional 334 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Price Performance

Core & Main stock opened at $42.38 on Thursday. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 2.75 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. Core & Main, Inc. has a 12 month low of $32.45 and a 12 month high of $62.15. The stock’s 50 day moving average is $43.56 and its 200-day moving average is $49.39.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.13). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Equities research analysts expect that Core & Main, Inc. will post 2.1 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on CNM shares. The Goldman Sachs Group cut their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Bank of America reduced their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Truist Financial lowered their target price on Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. Royal Bank of Canada reduced their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. Finally, Barclays lowered their price target on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

About Core & Main

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 portfolio 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, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.