Border to Coast Pensions Partnership Ltd Buys 49,619 Shares of Core & Main, Inc. (NYSE:CNM)

Border to Coast Pensions Partnership Ltd boosted its position in Core & Main, Inc. (NYSE:CNM) by 11.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 469,842 shares of the company’s stock after acquiring an additional 49,619 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Core & Main were worth $23,904,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CNM. Fifth Third Wealth Advisors LLC increased its holdings in shares of Core & Main by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after acquiring an additional 258 shares in the last quarter. Andina Capital Management LLC grew its position in Core & Main by 3.5% in the 3rd quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock valued at $387,000 after purchasing an additional 294 shares during the period. GAMMA Investing LLC increased its stake in Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Core & Main in the third quarter valued at $26,000. Finally, Ritholtz Wealth Management grew its holdings in shares of Core & Main by 4.3% during the fourth quarter. Ritholtz Wealth Management now owns 14,647 shares of the company’s stock valued at $746,000 after buying an additional 601 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CNM shares. Wells Fargo & Company raised their price target on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird raised their target price on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, Loop Capital upped their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $57.30.

Insider Buying and Selling at Core & Main

In related news, EVP Jeffrey D. Giles sold 25,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the sale, the executive vice president now directly owns 11,615 shares in the company, valued at approximately $635,456.65. The trade was a 68.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the transaction, the president now owns 18,423 shares of the company’s stock, valued at $1,014,554.61. This represents a 73.07 % 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 over the last ninety days. 3.49% of the stock is currently owned by company insiders.

Core & Main Stock Performance

NYSE CNM opened at $54.83 on Friday. The company has a market capitalization of $10.89 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a 50-day simple moving average of $49.74 and a 200 day simple moving average of $47.92.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business posted $0.65 EPS. Core & Main’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

About Core & Main

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.