12,177 Shares in Core & Main, Inc. (NYSE:CNM) Acquired by Intech Investment Management LLC

Intech Investment Management LLC acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 12,177 shares of the company’s stock, valued at approximately $541,000.

A number of other hedge funds have also bought and sold shares of the stock. Select Equity Group L.P. increased its stake in shares of Core & Main by 0.3% in the 2nd 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. Pacer Advisors Inc. lifted its position in Core & Main by 37.1% in 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 last quarter. Anomaly Capital Management LP increased its stake in Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock worth $176,601,000 after buying an additional 953,489 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Core & Main by 34.0% during the third quarter. Handelsbanken Fonder AB now owns 2,985,529 shares of the company’s stock worth $132,557,000 after buying an additional 757,000 shares during the period. Finally, Royal London Asset Management Ltd. raised its stake in Core & Main by 11.0% in the second quarter. Royal London Asset Management Ltd. now owns 2,688,455 shares of the company’s stock valued at $131,573,000 after buying an additional 266,935 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNM. Royal Bank of Canada cut their price objective on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Wells Fargo & Company initiated coverage on shares of Core & Main in a research note on Monday, September 23rd. They issued an “overweight” rating and a $52.00 target price for the company. Truist Financial lowered their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, September 5th. The Goldman Sachs Group cut their price objective on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, Robert W. Baird lifted their price target on shares of Core & Main from $53.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Stock Performance

Shares of CNM stock opened at $48.55 on Monday. The company has a market capitalization of $9.76 billion, a P/E ratio of 23.23, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02. The company’s 50 day moving average price is $44.72 and its two-hundred day moving average price is $48.27. Core & Main, Inc. has a 52 week low of $34.32 and a 52 week high of $62.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.34 and a current ratio of 2.29.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. On average, analysts expect that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Core & Main Company Profile

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.