Intech Investment Management LLC Purchases Shares of 12,177 Core & Main, Inc. (NYSE:CNM)

Intech Investment Management LLC purchased a new position in Core & Main, Inc. (NYSE:CNM) during the third quarter, Holdings Channel reports. The institutional investor purchased 12,177 shares of the company’s stock, valued at approximately $541,000.

Other institutional investors also recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Core & Main by 6.2% in the second quarter. Rhumbline Advisers now owns 508,554 shares of the company’s stock valued at $24,889,000 after purchasing an additional 29,490 shares in the last quarter. Comerica Bank boosted its holdings in shares of Core & Main by 30.9% in the 1st quarter. Comerica Bank now owns 67,754 shares of the company’s stock worth $3,879,000 after purchasing an additional 16,009 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Core & Main by 542.1% in the second quarter. SG Americas Securities LLC now owns 39,415 shares of the company’s stock worth $1,929,000 after buying an additional 33,277 shares during the period. Quest Partners LLC boosted its position in Core & Main by 1,195,600.0% during the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after buying an additional 11,956 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Core & Main by 51.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 52,900 shares of the company’s stock worth $3,029,000 after purchasing an additional 17,911 shares during the period. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Up 3.1 %

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

Core & Main (NYSE:CNM) last issued its 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 firm had revenue of $1.96 billion for the quarter, compared to analyst estimates 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 for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Research analysts predict that Core & Main, Inc. will post 2.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America dropped their price target on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock 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. Robert W. Baird lifted their target price on Core & Main from $53.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial cut their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, September 5th. Finally, Barclays cut their price objective on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Core & Main 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.