Interval Partners LP Trims Position in Core & Main, Inc. (NYSE:CNM)

Interval Partners LP trimmed its position in Core & Main, Inc. (NYSE:CNM) by 28.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,643,339 shares of the company’s stock after selling 644,916 shares during the quarter. Core & Main makes up approximately 1.6% of Interval Partners LP’s portfolio, making the stock its 11th biggest holding. Interval Partners LP owned approximately 0.83% of Core & Main worth $83,662,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Core & Main in the 4th quarter worth about $115,555,000. Norges Bank bought a new position in shares of Core & Main in the fourth quarter worth approximately $99,734,000. Impax Asset Management Group plc raised its stake in Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after purchasing an additional 1,416,907 shares in the last quarter. Federated Hermes Inc. lifted its position in Core & Main by 4,757.9% during the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company’s stock valued at $57,953,000 after purchasing an additional 1,114,913 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Core & Main by 38.4% in the 4th quarter. First Trust Advisors LP now owns 3,328,182 shares of the company’s stock worth $169,438,000 after buying an additional 923,287 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Robert W. Baird decreased their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a research note on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and an average target price of $57.55.

Core & Main Stock Down 0.3 %

Shares of NYSE CNM opened at $51.66 on Friday. The firm’s fifty day moving average is $49.24 and its 200 day moving average is $50.19. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.61 and a beta of 1.04.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares in the company, valued at $770,282.64. This trade represents a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the sale, the chief accounting officer now directly owns 4,120 shares in the company, valued at approximately $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,045 shares of company stock worth $5,045,698. 3.49% of the stock is currently owned by company insiders.

Core & Main Company Profile

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.