O Shaughnessy Asset Management LLC Grows Position in Core & Main, Inc. (NYSE:CNM)

O Shaughnessy Asset Management LLC boosted its stake in shares of Core & Main, Inc. (NYSE:CNM) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,784 shares of the company’s stock after acquiring an additional 826 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Core & Main were worth $1,364,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock valued at $84,855,000 after purchasing an additional 122,240 shares in the last quarter. Impax Asset Management Group plc boosted its stake 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 last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Core & Main during the 3rd quarter valued at approximately $774,000. Asset Management One Co. Ltd. raised its holdings in shares of Core & Main by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock worth $3,331,000 after acquiring an additional 7,565 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Core & Main by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock valued at $927,580,000 after acquiring an additional 221,970 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,257 shares of company stock worth $11,501,977 in the last three months. Corporate insiders own 3.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CNM shares. Citigroup upped their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Royal Bank of Canada decreased their target price on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Robert W. Baird dropped their price target on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and a consensus price target of $57.55.

Core & Main Price Performance

CNM opened at $46.12 on Friday. The business has a fifty day moving average of $51.06 and a 200 day moving average of $49.15. The stock has a market cap of $9.13 billion, a P/E ratio of 21.65, a PEG 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. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15.

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

About Core & Main

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.