Forest Avenue Capital Management LP Has $49.83 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Forest Avenue Capital Management LP boosted its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 18.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,122,251 shares of the company's stock after purchasing an additional 174,082 shares during the quarter. Core & Main comprises 6.0% of Forest Avenue Capital Management LP's holdings, making the stock its 4th biggest position. Forest Avenue Capital Management LP owned 0.56% of Core & Main worth $49,828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CNM. QRG Capital Management Inc. lifted its stake in Core & Main by 1.9% in the 2nd quarter. QRG Capital Management Inc. now owns 12,153 shares of the company's stock valued at $595,000 after purchasing an additional 228 shares during the last quarter. United Services Automobile Association lifted its stake in Core & Main by 2.0% in the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company's stock valued at $651,000 after purchasing an additional 266 shares during the last quarter. Andina Capital Management LLC raised its holdings in Core & Main by 3.5% in the 3rd quarter. Andina Capital Management LLC now owns 8,707 shares of the company's stock valued at $387,000 after buying an additional 294 shares during the last quarter. CWM LLC increased its stake in shares of Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company's stock valued at $80,000 after buying an additional 334 shares during the period. Finally, GAMMA Investing LLC raised its stake in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock worth $60,000 after buying an additional 511 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CNM shares. Truist Financial dropped 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 note on Thursday, September 5th. JPMorgan Chase & Co. cut their price objective on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, September 3rd. Loop Capital cut their target price on shares of Core & Main from $64.00 to $52.00 and set a "buy" rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company started coverage on shares of Core & Main in a research report on Monday, September 23rd. They issued an "overweight" rating and a $52.00 price objective on the stock. Finally, Barclays dropped their target price 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 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 stock. According to MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and an average price target of $51.20.

Core & Main Price Performance

CNM traded up $0.03 on Wednesday, reaching $47.13. 1,889,386 shares of the company's stock were exchanged, compared to its average volume of 2,561,516. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.29 and a quick ratio of 1.34. The stock's fifty day moving average price is $44.49 and its 200-day moving average price is $48.45. Core & Main, Inc. has a twelve month low of $34.02 and a twelve month high of $62.15. The stock has a market cap of $9.48 billion, a PE ratio of 22.54, a P/E/G ratio of 3.09 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the firm earned $0.66 EPS. The company's revenue was up 5.5% on a year-over-year basis. Sell-side analysts expect that Core & Main, Inc. will post 2.1 EPS 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.