Caisse Des Depots ET Consignations Takes $999,000 Position in Core & Main, Inc. (NYSE:CNM)

Caisse Des Depots ET Consignations acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the fourth quarter, HoldingsChannel reports. The fund acquired 19,625 shares of the company’s stock, valued at approximately $999,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CNM. US Bancorp DE raised its stake in shares of Core & Main by 12.3% during the fourth quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after acquiring an additional 197 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in Core & Main by 4.8% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $286,000 after purchasing an additional 258 shares during the period. Avior Wealth Management LLC lifted its stake in Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares during the last quarter. CIBC Asset Management Inc boosted its position in Core & Main by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after buying an additional 287 shares during the period. Finally, Arizona State Retirement System boosted its position in Core & Main by 0.6% during the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company’s stock valued at $2,846,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of CNM opened at $49.96 on Friday. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm’s 50-day simple moving average is $52.00 and its two-hundred day simple moving average is $48.74. The stock has a market cap of $9.92 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. 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 (NYSE:CNM) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.34 earnings per share. Analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $387,106.83. This trade represents a 86.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were 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 $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,294 shares of company stock worth $9,383,685. Insiders own 3.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CNM shares. Barclays boosted their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Robert W. Baird decreased their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday. Loop Capital increased their price target 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. Finally, Royal Bank of Canada decreased their price objective 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. One equities research 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, Core & Main currently has a consensus rating of “Moderate Buy” and an average price target of $57.30.

Core & Main 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.