Isthmus Partners LLC Reduces Stock Position in Core & Main, Inc. (NYSE:CNM)

Isthmus Partners LLC reduced its position in Core & Main, Inc. (NYSE:CNM) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,626 shares of the company’s stock after selling 1,011 shares during the quarter. Isthmus Partners LLC’s holdings in Core & Main were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of Core & Main during the first quarter worth about $27,000. Quadrant Capital Group LLC raised its holdings in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the last quarter. ORG Partners LLC bought a new position in shares of Core & Main in the first quarter worth $38,000. Principal Securities Inc. bought a new position in shares of Core & Main in the fourth quarter valued at approximately $43,000. Finally, Quarry LP boosted its stake in Core & Main by 87.0% during the fourth quarter. Quarry LP now owns 1,909 shares of the company’s stock valued at $77,000 after buying an additional 888 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CNM has been the topic of several research analyst reports. 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 report on Thursday. Loop Capital lowered their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays decreased their price objective on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday. Robert W. Baird dropped their price objective on shares of Core & Main from $62.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group dropped their target price on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.82.

Insider Transactions at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares of the company’s stock, valued at $614,577.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.49% of the stock is currently owned by company insiders.

Core & Main Price Performance

CNM stock traded up $0.05 during mid-day trading on Friday, reaching $38.05. 7,911,737 shares of the company traded hands, compared to its average volume of 2,577,030. Core & Main, Inc. has a 52-week low of $27.75 and a 52-week high of $62.15. The company has a market capitalization of $7.67 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.82 and a beta of 1.04. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.14 and a quick ratio of 1.23. The company has a fifty day moving average price of $49.66 and a 200-day moving average price of $52.59.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate 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 net margin of 5.53% and a return on equity of 20.01%. The business’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. As a group, analysts anticipate that Core & Main, Inc. will post 2.32 earnings per share for the current 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.