Madison Asset Management LLC Has $6.25 Million Stock Holdings in Core & Main, Inc. $CNM

Madison Asset Management LLC lowered its stake in Core & Main, Inc. (NYSE:CNM) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 116,023 shares of the company’s stock after selling 9,515 shares during the quarter. Madison Asset Management LLC owned approximately 0.06% of Core & Main worth $6,246,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CNM. Cubist Systematic Strategies LLC raised its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after acquiring an additional 524 shares during the period. AQR Capital Management LLC acquired a new stake in Core & Main during the first quarter worth about $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Core & Main by 36.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock valued at $1,719,000 after acquiring an additional 9,534 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after buying an additional 54,854 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Core & Main by 23.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,178 shares of the company’s stock worth $795,000 after buying an additional 2,546 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Price Performance

Shares of NYSE CNM opened at $57.82 on Thursday. Core & Main, Inc. has a twelve month low of $43.17 and a twelve month high of $67.18. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $55.11 and a 200 day simple moving average of $55.14. The company has a market capitalization of $11.30 billion, a PE ratio of 25.47, a P/E/G ratio of 2.13 and a beta of 0.98.

Core & Main (NYSE:CNM) last released 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. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. Core & Main had a net margin of 5.60% and a return on equity of 24.63%. Core & Main’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. On average, sell-side analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Core & Main declared that its board has approved a stock buyback program on Tuesday, December 9th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CNM. Barclays decreased their target price 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. Robert W. Baird lifted their price target on shares of Core & Main from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Core & Main from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Wells Fargo & Company boosted their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

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.