137,663 Shares in Core & Main, Inc. $CNM Acquired by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd purchased a new position in shares of Core & Main, Inc. (NYSE:CNM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 137,663 shares of the company’s stock, valued at approximately $7,383,000.

Several other large investors also recently modified their holdings of CNM. EverSource Wealth Advisors LLC lifted its position in shares of Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares during the period. Hantz Financial Services Inc. grew its holdings in Core & Main by 815.7% in the second quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock worth $39,000 after purchasing an additional 571 shares during the period. Cubist Systematic Strategies LLC increased its stake in 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 in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Core & Main by 47.8% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock valued at $52,000 after buying an additional 311 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Core & Main by 108.5% during the third quarter. Farther Finance Advisors LLC now owns 1,026 shares of the company’s stock valued at $55,000 after acquiring an additional 534 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of CNM stock opened at $54.62 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.26 and a quick ratio of 1.35. The firm has a 50-day moving average of $53.94 and a 200-day moving average of $55.45. Core & Main, Inc. has a one year low of $43.17 and a one year high of $67.18. The company has a market cap of $10.68 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.12 and a beta of 0.98.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. Core & Main had a net margin of 5.60% and a return on equity of 24.63%. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Core & Main announced that its board has approved a share buyback program on Tuesday, December 9th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

CNM has been the topic of a number of recent research reports. Zacks Research upgraded Core & Main from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Royal Bank Of Canada restated an “outperform” rating and set a $63.00 price objective on shares of Core & Main in a report on Friday, January 9th. Citigroup raised their price objective on shares of Core & Main from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. 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 report on Wednesday, January 14th. Finally, 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, December 1st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.