Interval Partners LP Has $63.85 Million Holdings in Core & Main, Inc. $CNM

Interval Partners LP cut its position in Core & Main, Inc. (NYSE:CNM) by 31.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,228,528 shares of the company’s stock after selling 552,234 shares during the quarter. Core & Main makes up about 1.1% of Interval Partners LP’s holdings, making the stock its 14th biggest position. Interval Partners LP owned about 0.63% of Core & Main worth $63,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNM. Cubist Systematic Strategies LLC grew its stake in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after buying an additional 524 shares during the last quarter. AQR Capital Management LLC acquired a new position in Core & Main in the 1st quarter valued at $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Core & Main by 36.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock valued at $1,719,000 after buying an additional 9,534 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Core & Main by 23.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock valued at $14,106,000 after buying an additional 54,854 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CNM. Citigroup lowered their target price on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Barclays decreased their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a research report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.73.

Insider Transactions at Core & Main

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the transaction, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at approximately $656,750. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope acquired 1,972 shares of Core & Main stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average cost of $50.70 per share, with a total value of $99,980.40. Following the completion of the acquisition, the director directly owned 6,939 shares in the company, valued at $351,807.30. This trade represents a 39.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.51% of the stock is currently owned by company insiders.

Core & Main Price Performance

NYSE:CNM opened at $46.43 on Thursday. The company has a 50-day moving average of $49.57 and a 200-day moving average of $52.12. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 1.66 and a beta of 0.91. Core & Main, Inc. has a 52 week low of $43.96 and a 52 week high of $67.18. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Wednesday, June 10th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.19. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Core & Main had a net margin of 5.87% and a return on equity of 26.17%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. As a group, equities research analysts anticipate that Core & Main, Inc. will post 3.06 earnings per share for the current fiscal year.

Core & Main Company 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.