Advantage Alpha Capital Partners LP Invests $4.13 Million in Core & Main, Inc. (NYSE:CNM)

Advantage Alpha Capital Partners LP bought a new stake in Core & Main, Inc. (NYSE:CNM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 93,100 shares of the company’s stock, valued at approximately $4,134,000.

A number of other large investors have also added to or reduced their stakes in CNM. FMR LLC boosted its position in Core & Main by 28.0% in 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 last quarter. CDAM UK Ltd boosted its holdings in Core & Main by 84.9% in the third quarter. CDAM UK Ltd now owns 1,276,796 shares of the company’s stock valued at $56,690,000 after purchasing an additional 586,081 shares during the last quarter. Douglass Winthrop Advisors LLC grew its stake in Core & Main by 23.3% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock valued at $3,120,000 after purchasing an additional 13,263 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in Core & Main by 11.8% during the 3rd quarter. Summit Trail Advisors LLC now owns 8,923 shares of the company’s stock worth $396,000 after purchasing an additional 945 shares during the last quarter. Finally, Swedbank AB increased its holdings in Core & Main by 8.2% during the 3rd quarter. Swedbank AB now owns 1,782,100 shares of the company’s stock worth $79,125,000 after purchasing an additional 135,000 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Up 5.0 %

NYSE:CNM opened at $47.55 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. The stock has a 50 day moving average of $44.40 and a 200-day moving average of $48.54. The firm has a market capitalization of $9.56 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02. Core & Main, Inc. has a 52 week low of $34.02 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last posted its 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). The firm had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. Core & Main’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the company posted $0.66 EPS. Analysts predict that Core & Main, Inc. will post 2.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CNM shares. JPMorgan Chase & Co. reduced their target price on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Truist Financial decreased their price objective on shares of Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada cut their target price on shares of Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. Wells Fargo & Company began coverage on Core & Main in a research note on Monday, September 23rd. They issued an “overweight” rating and a $52.00 price target for the company. Finally, The Goldman Sachs Group lowered their price objective on Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.20.

Core & Main 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.