Isthmus Partners LLC Sells 15,578 Shares of Core & Main, Inc. (NYSE:CNM)

Isthmus Partners LLC lowered its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 16.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 81,048 shares of the company’s stock after selling 15,578 shares during the quarter. Isthmus Partners LLC’s holdings in Core & Main were worth $3,599,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Select Equity Group L.P. boosted its position in Core & Main by 0.3% during the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after buying an additional 39,475 shares during the period. FMR LLC boosted its position in 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 buying an additional 1,903,280 shares during the period. Pacer Advisors Inc. boosted its position in Core & Main by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after buying an additional 41,521 shares during the period. Anomaly Capital Management LP boosted its position in Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock valued at $176,601,000 after buying an additional 953,489 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in Core & Main by 34.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,985,529 shares of the company’s stock valued at $132,557,000 after buying an additional 757,000 shares during the period. Institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Royal Bank of Canada dropped their price target on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. 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 report on Friday, September 6th. Truist Financial dropped their target price on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. dropped their target price 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. Finally, Loop Capital dropped 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. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Core & Main Stock Up 0.0 %

NYSE:CNM opened at $47.11 on Friday. The firm has a market cap of $9.48 billion, a P/E ratio of 22.54, a P/E/G ratio of 3.09 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. Core & Main, Inc. has a fifty-two week low of $34.02 and a fifty-two week high of $62.15. The firm has a 50-day simple moving average of $44.57 and a two-hundred day simple moving average of $48.44.

Core & Main (NYSE:CNM) last released its quarterly earnings data 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). The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. Analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current fiscal 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.