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

Riverwater Partners LLC raised its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 20.6% in the third quarter, Holdings Channel reports. The institutional investor 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of Core & Main by 35.2% in the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock worth $1,038,457,000 after purchasing an additional 4,721,510 shares in the last quarter. Capital International Investors increased its position 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 buying an additional 4,200,591 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of Core & Main by 915.9% in the first quarter. Bessemer Group Inc. now owns 2,586,395 shares of the company’s stock worth $148,073,000 after buying an additional 2,331,802 shares during the period. Swedbank AB bought a new position in shares of Core & Main in the first quarter worth about $98,876,000. Finally, Artemis Investment Management LLP lifted its position in shares of Core & Main by 148.0% during the 1st quarter. Artemis Investment Management LLP now owns 2,650,209 shares of the company’s stock valued at $151,655,000 after buying an additional 1,581,389 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, September 5th. Royal Bank of Canada decreased their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Loop Capital dropped their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Bank of America decreased their target price on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. Finally, The Goldman Sachs Group dropped their price target on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Core & Main Trading Down 0.6 %

CNM stock opened at $45.23 on Thursday. The firm has a fifty day moving average price of $45.20 and a 200 day moving average price of $50.65. Core & Main, Inc. has a fifty-two week low of $29.13 and a fifty-two week high of $62.15. The firm has a market cap 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 quick ratio of 1.34 and a current ratio of 2.29.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The business had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.66 earnings per share. Sell-side analysts anticipate 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.