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

FORA Capital LLC cut its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 87.4% in the third quarter, HoldingsChannel.com reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CNM. MetLife Investment Management LLC increased its holdings in shares of Core & Main by 11.0% during the 3rd quarter. MetLife Investment Management LLC now owns 105,427 shares of the company’s stock valued at $4,681,000 after purchasing an additional 10,413 shares in the last quarter. Forest Avenue Capital Management LP increased its holdings in shares of Core & Main by 18.4% during the 3rd quarter. Forest Avenue Capital Management LP now owns 1,122,251 shares of the company’s stock valued at $49,828,000 after purchasing an additional 174,082 shares in the last quarter. Thematics Asset Management increased its holdings in shares of Core & Main by 15.5% during the 3rd quarter. Thematics Asset Management now owns 484,000 shares of the company’s stock valued at $21,490,000 after purchasing an additional 65,000 shares in the last quarter. Advantage Alpha Capital Partners LP purchased a new position in shares of Core & Main during the 3rd quarter valued at approximately $4,134,000. Finally, FMR LLC increased its holdings in shares of Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after purchasing an additional 1,903,280 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Trading Up 3.0 %

Shares of CNM opened at $48.53 on Friday. Core & Main, Inc. has a 52-week low of $34.32 and a 52-week 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. The firm’s fifty day moving average is $44.61 and its two-hundred day moving average is $48.43. The stock has a market cap of $9.76 billion, a PE ratio of 23.23, a price-to-earnings-growth ratio of 3.07 and a beta of 1.02.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (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 business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

CNM has been the subject of several recent research reports. JPMorgan Chase & Co. cut their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. The Goldman Sachs Group cut their target price on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Barclays dropped their price target on shares of Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company initiated coverage on shares of Core & Main in a research note on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target on the stock. Finally, Robert W. Baird lifted their price target on shares of Core & Main from $53.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

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.