Intech Investment Management LLC Invests $541,000 in Core & Main, Inc. (NYSE:CNM)

Intech Investment Management LLC purchased a new position in Core & Main, Inc. (NYSE:CNM - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,177 shares of the company's stock, valued at approximately $541,000.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Core & Main by 4.1% in the third quarter. Advisors Asset Management Inc. now owns 54,140 shares of the company's stock worth $2,404,000 after buying an additional 2,129 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company's stock worth $531,000 after buying an additional 11,956 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Core & Main by 6.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 109,225 shares of the company's stock valued at $4,849,000 after purchasing an additional 6,227 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of Core & Main by 6.5% in the 3rd quarter. Mutual of America Capital Management LLC now owns 104,262 shares of the company's stock worth $4,629,000 after purchasing an additional 6,347 shares during the period. Finally, South Street Advisors LLC lifted its position in Core & Main by 36.0% during the third quarter. South Street Advisors LLC now owns 234,144 shares of the company's stock valued at $10,396,000 after acquiring an additional 61,962 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Core & Main from $60.00 to $53.00 and set an "outperform" rating on the stock in a research note on Thursday, September 5th. Robert W. Baird raised their price target on shares of 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 dropped their price target 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, September 5th. 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 report on Thursday, September 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Core & Main currently has an average rating of "Moderate Buy" and an average price target of $51.20.

Core & Main Trading Down 0.5 %

CNM stock traded down $0.25 during trading on Monday, hitting $48.30. The company had a trading volume of 4,507,732 shares, compared to its average volume of 2,567,295. The firm has a 50-day moving average price of $44.72 and a 200-day moving average price of $48.18. The stock has a market cap of $9.71 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 3.16 and a beta of 1.02. Core & Main, Inc. has a 12 month low of $35.03 and a 12 month high of $62.15. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM - Get Free Report) last announced its 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 return on equity of 21.91% and a net margin of 5.58%. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the company posted $0.66 earnings per share. Core & Main's revenue for the quarter was up 5.5% on a year-over-year basis. As a group, analysts predict that Core & Main, Inc. will post 2.1 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.