Oak Thistle LLC Buys 1,637 Shares of Core & Main, Inc. (NYSE:CNM)

Oak Thistle LLC lifted its holdings in Core & Main, Inc. (NYSE:CNMFree Report) by 8.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,177 shares of the company’s stock after purchasing an additional 1,637 shares during the quarter. Oak Thistle LLC’s holdings in Core & Main were worth $856,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CNM. JPMorgan Chase & Co. boosted its position in shares of Core & Main by 83.9% in the 1st quarter. JPMorgan Chase & Co. now owns 114,575 shares of the company’s stock worth $2,772,000 after purchasing an additional 52,285 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Core & Main by 68.4% in the 1st quarter. Bank of New York Mellon Corp now owns 134,101 shares of the company’s stock worth $3,245,000 after purchasing an additional 54,460 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Core & Main in the 1st quarter worth $1,208,000. Acadian Asset Management LLC acquired a new stake in shares of Core & Main in the 1st quarter worth $364,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Core & Main in the 1st quarter worth $58,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

NYSE CNM opened at $57.77 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. Core & Main, Inc. has a fifty-two week low of $21.75 and a fifty-two week high of $58.26. The stock has a 50-day simple moving average of $48.05 and a two-hundred day simple moving average of $39.32. The firm has a market capitalization of $11.63 billion, a P/E ratio of 26.87, a PEG ratio of 1.85 and a beta of 1.15.

Core & Main (NYSE:CNMGet Free Report) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the business earned $0.31 EPS. Core & Main’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, equities analysts forecast that Core & Main, Inc. will post 2.58 earnings per share for the current year.

Insider Activity at Core & Main

In related news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of Core & Main stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total value of $864,398,751.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of Core & Main stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total value of $864,398,751.36. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John Weldon Stephens sold 1,100 shares of Core & Main stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $50.02, for a total value of $55,022.00. Following the completion of the sale, the vice president now owns 3,468 shares in the company, valued at $173,469.36. The disclosure for this sale can be found here. Insiders sold a total of 46,334,043 shares of company stock worth $1,836,262,410 in the last 90 days. Corporate insiders own 3.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Citigroup raised their price objective on Core & Main from $48.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Loop Capital raised their target price on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group raised their target price on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Truist Financial restated a “hold” rating and issued a $38.00 target price on shares of Core & Main in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. raised 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. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Check Out Our Latest Stock Report on CNM

Core & Main Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Core & Main (NYSE:CNM)

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