FORA Capital LLC Decreases Stock Holdings in Core & Main, Inc. (NYSE:CNM)

FORA Capital LLC lowered its position in Core & Main, Inc. (NYSE:CNM) by 87.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,882 shares of the company’s stock after selling 54,499 shares during the quarter. FORA Capital LLC’s holdings in Core & Main were worth $350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers raised its stake 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 acquiring an additional 29,490 shares during the period. Comerica Bank raised its stake in shares of Core & Main by 30.9% in the first quarter. Comerica Bank now owns 67,754 shares of the company’s stock valued at $3,879,000 after acquiring an additional 16,009 shares during the period. SG Americas Securities LLC grew 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 purchasing an additional 33,277 shares during the last quarter. Quest Partners LLC grew its holdings in shares of Core & Main by 1,195,600.0% in the third quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock worth $531,000 after purchasing an additional 11,956 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in shares of Core & Main by 2.6% in the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after purchasing an additional 44,282 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Royal Bank of Canada cut their price target 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. The Goldman Sachs Group cut their price target on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Truist Financial cut their price target 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. Loop Capital cut their price target on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Finally, Barclays cut their price target on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.20.

Core & Main Stock Up 3.0 %

NYSE:CNM opened at $48.53 on Friday. Core & Main, Inc. has a fifty-two week low of $34.32 and a fifty-two week high of $62.15. The stock has a market capitalization of $9.76 billion, a P/E ratio of 23.23, a P/E/G ratio of 3.07 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. The company’s 50-day simple moving average is $44.61 and its 200-day simple moving average is $48.43.

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 analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

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.