Pembroke Management LTD Has $48.94 Million Stake in Core & Main, Inc. $CNM

Pembroke Management LTD increased its holdings in Core & Main, Inc. (NYSE:CNM) by 26.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 909,216 shares of the company’s stock after acquiring an additional 190,879 shares during the period. Core & Main comprises 4.9% of Pembroke Management LTD’s investment portfolio, making the stock its 5th biggest holding. Pembroke Management LTD’s holdings in Core & Main were worth $48,943,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. 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 purchasing an additional 269 shares during the last quarter. Bfsg LLC grew its holdings in Core & Main by 56.4% during the second quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Core & Main by 815.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock valued at $39,000 after acquiring an additional 571 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in Core & Main by 47.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock worth $52,000 after acquiring an additional 311 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Price Performance

Core & Main stock opened at $58.51 on Friday. The business’s 50 day simple moving average is $51.84 and its 200 day simple moving average is $55.93. Core & Main, Inc. has a 12 month low of $43.17 and a 12 month high of $67.18. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.94 and a beta of 0.98. The company has a current ratio of 2.26, a quick ratio of 1.35 and a debt-to-equity ratio of 1.04.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 9th. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. Core & Main had a return on equity of 24.63% and a net margin of 5.60%.The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Core & Main declared that its board has authorized a stock repurchase program on Tuesday, December 9th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

CNM has been the subject of several analyst reports. Zacks Research upgraded shares of Core & Main from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Wells Fargo & Company upped their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Core & Main from $63.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Citigroup increased their price target on Core & Main from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Core & Main from $58.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.00.

About Core & Main

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.