Interval Partners LP Sells 552,234 Shares of Core & Main, Inc. $CNM

Interval Partners LP reduced its position in shares of Core & Main, Inc. (NYSE:CNM) by 31.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,228,528 shares of the company’s stock after selling 552,234 shares during the period. Core & Main comprises about 1.1% of Interval Partners LP’s investment portfolio, making the stock its 14th biggest position. Interval Partners LP’s holdings in Core & Main were worth $63,847,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. bought a new position in shares of Core & Main in the fourth quarter worth about $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 269 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Core & Main in the fourth quarter worth about $28,000. Cubist Systematic Strategies LLC raised its stake in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Core & Main in the fourth quarter worth about $38,000. 94.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Citigroup lowered their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Finally, Barclays lowered their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.73.

Core & Main Stock Down 2.8%

Shares of NYSE:CNM opened at $46.43 on Thursday. Core & Main, Inc. has a one year low of $43.96 and a one year high of $67.18. The company has a 50 day moving average of $49.57 and a 200-day moving average of $52.12. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.66 and a beta of 0.91.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Wednesday, June 10th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.53 by $0.19. Core & Main had a net margin of 5.87% and a return on equity of 26.17%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the company earned $0.52 EPS. Core & Main’s revenue was down .1% on a year-over-year basis. On average, sell-side analysts forecast that Core & Main, Inc. will post 3.06 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the transaction, the chief financial officer owned 12,500 shares in the company, valued at approximately $656,750. The trade was a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope acquired 1,972 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were purchased at an average price of $50.70 per share, with a total value of $99,980.40. Following the acquisition, the director owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. This trade represents a 39.70% increase in their position. The SEC filing for this purchase provides additional information. 1.51% of the stock is currently owned by insiders.

Core & Main Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.