Riposte Capital LLC Invests $12.07 Million in Core & Main, Inc. $CNM

Riposte Capital LLC purchased a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 200,000 shares of the company’s stock, valued at approximately $12,070,000. Core & Main makes up 1.9% of Riposte Capital LLC’s holdings, making the stock its 8th largest position.

A number of other institutional investors also recently bought and sold shares of CNM. EverSource Wealth Advisors LLC lifted its holdings in 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 buying an additional 269 shares during the period. Bfsg LLC raised its position in shares of Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Core & Main by 815.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock valued at $39,000 after purchasing an additional 571 shares during the period. Finally, Steph & Co. bought a new stake in shares of Core & Main during the second quarter valued at approximately $53,000. 94.19% of the stock is owned by institutional investors.

Core & Main Price Performance

Shares of CNM opened at $51.60 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. Core & Main, Inc. has a 1-year low of $43.17 and a 1-year high of $67.18. The firm has a market cap of $10.19 billion, a PE ratio of 23.04, a P/E/G ratio of 1.98 and a beta of 0.99. The firm has a fifty day simple moving average of $50.33 and a two-hundred day simple moving average of $56.39.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 9th. The company reported $0.72 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.72. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.06 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.Core & Main’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 earnings per share. On average, equities analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Core & Main declared that its board has initiated a share repurchase program on Tuesday, December 9th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CNM. JPMorgan Chase & Co. increased their price objective on Core & Main from $54.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Royal Bank Of Canada decreased their price target on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday, September 10th. Wells Fargo & Company lowered their price target on shares of Core & Main from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, December 4th. Truist Financial dropped their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, September 11th. Finally, The Goldman Sachs Group reduced their price target on Core & Main from $68.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, September 12th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

About Core & Main

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.