Interval Partners LP Reduces Position in Core & Main, Inc. (NYSE:CNM)

Interval Partners LP reduced its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 28.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,643,339 shares of the company's stock after selling 644,916 shares during the quarter. Core & Main comprises about 1.6% of Interval Partners LP's holdings, making the stock its 11th biggest holding. Interval Partners LP owned 0.83% of Core & Main worth $83,662,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CNM. Charles Schwab Investment Management Inc. grew its holdings in shares of Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after purchasing an additional 122,240 shares in the last quarter. Impax Asset Management Group plc grew its stake in Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after buying an additional 1,416,907 shares in the last quarter. Federated Hermes Inc. grew its stake in Core & Main by 4,757.9% in the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock worth $57,953,000 after buying an additional 1,114,913 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Core & Main by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after buying an additional 221,970 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Core & Main by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock valued at $3,331,000 after buying an additional 7,565 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $57.55.

Insider Activity

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now directly owns 16,452 shares of the company's stock, valued at approximately $770,282.64. The trade was a 57.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction of $541,546.28. Following the sale, the chief accounting officer now owns 4,120 shares in the company, valued at approximately $218,442.40. The trade was a 71.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,045 shares of company stock worth $3,683,698. Insiders own 3.49% of the company's stock.

Core & Main Trading Down 2.3%

Core & Main stock traded down $1.24 during trading hours on Wednesday, reaching $52.88. The company had a trading volume of 1,554,831 shares, compared to its average volume of 2,309,776. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a 50-day moving average price of $49.58 and a 200 day moving average price of $50.32. The firm has a market cap of $10.46 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 2.61 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. Equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Core & Main Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.