KLP Kapitalforvaltning AS Takes Position in Core & Main, Inc. (NYSE:CNM)

KLP Kapitalforvaltning AS acquired a new position in Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,000 shares of the company’s stock, valued at approximately $1,985,000.

Several other institutional investors also recently bought and sold shares of the company. Avior Wealth Management LLC grew its position in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares in the last quarter. UMB Bank n.a. lifted its stake in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after acquiring an additional 684 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Core & Main during the 3rd quarter worth about $49,000. Blue Trust Inc. increased its position in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares during the period. Finally, R Squared Ltd purchased a new position in Core & Main during the 4th quarter valued at about $78,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction dated 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 owns 7,667 shares in the company, valued at approximately $387,106.83. The trade was a 86.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares of the company’s stock, 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. Over the last quarter, insiders sold 184,294 shares of company stock valued at $9,383,685. Insiders own 3.49% of the company’s stock.

Core & Main Trading Up 0.9 %

Core & Main stock opened at $49.96 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. 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 stock has a 50-day moving average of $52.00 and a two-hundred day moving average of $48.74. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) 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 analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. On average, research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have 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 stock a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company increased their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Royal Bank of Canada reduced their price target on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday. Barclays raised their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird reduced their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus price target of $57.30.

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.