Riverwater Partners LLC Boosts Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Riverwater Partners LLC grew its position in shares of Core & Main, Inc. (NYSE:CNM) by 20.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,079 shares of the company’s stock after acquiring an additional 1,038 shares during the period. Riverwater Partners LLC’s holdings in Core & Main were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Core & Main by 35.2% in the first quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock worth $1,038,457,000 after buying an additional 4,721,510 shares during the period. Select Equity Group L.P. boosted its position in shares of Core & Main by 0.3% during the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after purchasing an additional 39,475 shares in the last quarter. Capital International Investors raised its holdings in Core & Main by 470.6% in the first quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock worth $291,590,000 after purchasing an additional 4,200,591 shares in the last quarter. Pacer Advisors Inc. lifted its position in Core & Main by 37.1% during the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock valued at $205,974,000 after buying an additional 1,137,817 shares during the period. Finally, Anomaly Capital Management LP boosted its holdings in shares of Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock valued at $176,601,000 after buying an additional 953,489 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Trading Down 0.6 %

Core & Main stock opened at $45.23 on Thursday. Core & Main, Inc. has a one year low of $29.13 and a one year high of $62.15. The business’s fifty day moving average is $45.20 and its 200 day moving average is $50.65. The stock has a market capitalization of $9.11 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The company had revenue of $1.96 billion during 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 business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, sell-side analysts predict that Core & Main, Inc. will post 2.1 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CNM. Bank of America lowered their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company assumed coverage on Core & Main in a research report on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Royal Bank of Canada lowered their price objective on Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. Finally, Truist Financial cut their target price on Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main currently has an average rating of “Moderate Buy” and an average 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.