Caisse Des Depots ET Consignations Acquires Shares of 19,625 Core & Main, Inc. (NYSE:CNM)

Caisse Des Depots ET Consignations bought a new position in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 19,625 shares of the company’s stock, valued at approximately $999,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Core & Main during the fourth quarter worth $115,555,000. PointState Capital LP bought a new stake in shares of Core & Main during the 3rd quarter worth $100,013,000. FMR LLC boosted its holdings in shares of Core & Main by 28.0% in the 3rd 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 during the last quarter. Impax Asset Management Group plc grew its position in Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after buying an additional 1,416,907 shares during the period. Finally, Spruce House Investment Management LLC increased its holdings in Core & Main by 400.0% during the third quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock worth $66,600,000 after buying an additional 1,200,000 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 0.9 %

Shares of CNM opened at $49.96 on Friday. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The stock has a market cap of $9.92 billion, a PE ratio of 23.45, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The business’s 50-day moving average price is $52.00 and its 200-day moving average price is $48.74.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the company posted $0.34 EPS. The business’s revenue was up 17.9% on a year-over-year basis. On average, equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CNM shares. Wells Fargo & Company increased their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Robert W. Baird decreased their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday. Loop Capital boosted their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased their price target on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Barclays boosted their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and an average price target of $57.30.

Insider Activity at Core & Main

In related news, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John R. Schaller sold 60,452 shares of Core & Main stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the sale, the executive vice president now owns 17,898 shares of the company’s stock, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,294 shares of company stock valued at $9,383,685. Company insiders own 3.49% of the company’s stock.

Core & Main Company Profile

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.