Core & Main, Inc. (NYSE:CNM) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,288,763 shares of the company’s stock after purchasing an additional 26,799 shares during the quarter. Geode Capital Management LLC’s holdings in Core & Main were worth $167,483,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE raised its position in Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company’s stock valued at $91,000 after purchasing an additional 197 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Core & Main by 4.8% in 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. Avior Wealth Management LLC grew its stake in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 271 shares during the period. CIBC Asset Management Inc grew its holdings in Core & Main by 5.1% in the 4th 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 increased 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 worth $2,846,000 after purchasing an additional 360 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

NYSE CNM opened at $46.12 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm has a market cap of $9.13 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a fifty day moving average price of $51.06 and a 200-day moving average price of $49.19.

Core & Main (NYSE:CNM) last announced 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 during the quarter, compared to analysts’ expectations 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 for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. As a group, equities research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CNM. Citigroup increased their price objective 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. 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 note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada dropped their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $57.55.

Insider Activity

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. The trade was a 20.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO John Weldon Stephens sold 41,963 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the transaction, the chief accounting officer now owns 4,120 shares of the company’s stock, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,257 shares of company stock valued at $11,501,977. Corporate insiders own 3.49% of the company’s stock.

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.