Oak Thistle LLC Acquires New Holdings in Core & Main, Inc. (NYSE:CNM)

Oak Thistle LLC bought a new position in Core & Main, Inc. (NYSE:CNM) during the 4th quarter, Holdings Channel reports. The institutional investor bought 31,787 shares of the company’s stock, valued at approximately $1,618,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PointState Capital LP bought a new position in shares of Core & Main in the third quarter worth $100,013,000. FMR LLC grew its position in Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after buying an additional 1,903,280 shares in the last quarter. Impax Asset Management Group plc increased its stake in Core & Main by 373.0% in the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock worth $89,416,000 after acquiring an additional 1,588,117 shares during the last quarter. Spruce House Investment Management LLC raised its holdings in shares of Core & Main by 400.0% in the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock valued at $66,600,000 after acquiring an additional 1,200,000 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Core & Main by 37.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock valued at $205,974,000 after acquiring an additional 1,137,817 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CNM shares. Barclays 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, December 4th. Robert W. Baird increased their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Loop Capital raised their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Truist Financial upped their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 target price (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.30.

Core & Main Price Performance

CNM stock opened at $53.94 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm has a market cap of $10.72 billion, a P/E ratio of 25.32, a P/E/G ratio of 2.95 and a beta of 1.02. The firm’s fifty day moving average is $49.42 and its 200 day moving average is $47.83. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. Research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Margaret Newman sold 15,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the sale, the director now directly owns 11,769 shares in the company, valued at $650,237.25. This represents a 56.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total transaction of $675,875.00. Following the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $865,660.70. The trade was a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 425,452 shares of company stock worth $22,814,683 in the last ninety days. 3.49% of the stock is owned by insiders.

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.