Trigran Investments Inc. Takes $1.21 Million Position in Core & Main, Inc. $CNM

Trigran Investments Inc. bought a new position in shares of Core & Main, Inc. (NYSE:CNM) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 22,525 shares of the company’s stock, valued at approximately $1,213,000. Core & Main accounts for approximately 0.2% of Trigran Investments Inc.’s portfolio, making the stock its 16th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC increased its position in shares of Core & Main by 86.6% in the third quarter. Barclays PLC now owns 166,651 shares of the company’s stock worth $8,971,000 after acquiring an additional 77,327 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in Core & Main by 563.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 73,795 shares of the company’s stock worth $3,972,000 after purchasing an additional 62,670 shares during the period. Dimensional Fund Advisors LP increased its holdings in Core & Main by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,309,551 shares of the company’s stock valued at $124,320,000 after purchasing an additional 38,896 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Core & Main in the 3rd quarter valued at $4,239,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in Core & Main by 10.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 59,600 shares of the company’s stock valued at $3,208,000 after purchasing an additional 5,700 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Down 3.6%

Shares of NYSE:CNM opened at $52.30 on Friday. The firm has a market cap of $10.23 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.00 and a beta of 0.98. The company has a fifty day simple moving average of $55.76 and a 200 day simple moving average of $54.24. The company has a current ratio of 2.26, a quick ratio of 1.35 and a debt-to-equity ratio of 1.04. Core & Main, Inc. has a 12-month low of $43.17 and a 12-month high of $67.18.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $0.89 earnings per share for the quarter, topping 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%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.69 EPS. On average, equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

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

Analyst Ratings Changes

CNM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Core & Main from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Citigroup increased their price objective on shares of Core & Main from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $63.00 target price on shares of Core & Main in a research report on Friday, January 9th. JPMorgan Chase & Co. raised their price target on shares of Core & Main from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. 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 note on Monday, December 1st. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Core & Main 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.