Oxford Asset Management LLP Acquires Shares of 6,282 Core & Main, Inc. (NYSE:CNM)

Oxford Asset Management LLP purchased a new position in Core & Main, Inc. (NYSE:CNM) in the fourth quarter, Holdings Channel.com reports. The firm purchased 6,282 shares of the company’s stock, valued at approximately $254,000.

Several other large investors also recently modified their holdings of CNM. FMR LLC raised its stake in shares of Core & Main by 51.1% in the third quarter. FMR LLC now owns 7,865,719 shares of the company’s stock valued at $226,926,000 after acquiring an additional 2,660,097 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Core & Main in the 4th quarter valued at about $91,771,000. Handelsbanken Fonder AB grew its stake in Core & Main by 180.1% during the 4th quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock worth $109,405,000 after buying an additional 1,740,685 shares during the last quarter. Norges Bank purchased a new position in shares of Core & Main in the fourth quarter worth $69,282,000. Finally, Vanguard Group Inc. boosted its position in Core & Main by 14.3% in the third quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company’s stock valued at $273,812,000 after buying an additional 1,187,700 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In other news, VP John Weldon Stephens sold 1,100 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00. Following the completion of the sale, the vice president now directly owns 3,468 shares of the company’s stock, valued at approximately $173,469.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $59.50, for a total transaction of $2,975,000.00. Following the sale, the chief financial officer now owns 23,898 shares of the company’s stock, valued at approximately $1,421,931. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Weldon Stephens sold 1,100 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00. Following the transaction, the vice president now owns 3,468 shares of the company’s stock, valued at approximately $173,469.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,000 shares of company stock worth $15,442,117. 3.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNM. JPMorgan Chase & Co. upped their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Barclays raised their target price on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. The Goldman Sachs Group upped their target price on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Royal Bank of Canada raised their target price on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Finally, Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $50.08.

Core & Main Stock Performance

NYSE CNM traded up $1.17 on Friday, hitting $60.17. The stock had a trading volume of 598,205 shares, compared to its average volume of 2,507,594. The company’s 50-day moving average is $57.49 and its two-hundred day moving average is $46.42. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 1.85 and a beta of 1.14. Core & Main, Inc. has a one year low of $26.08 and a one year high of $62.15.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the business earned $0.31 earnings per share. Core & Main’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, analysts expect that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Core & Main Company 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.