Aster Capital Management DIFC Ltd Invests $805,000 in Core & Main, Inc. (NYSE:CNM)

Aster Capital Management DIFC Ltd bought a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 15,814 shares of the company's stock, valued at approximately $805,000.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Core & Main by 1.2% in the fourth 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. State Street Corp lifted its stake in shares of Core & Main by 9.7% in the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company's stock valued at $245,177,000 after purchasing an additional 489,224 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Core & Main by 1.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock worth $194,005,000 after purchasing an additional 48,833 shares during the period. Amundi grew its holdings in shares of Core & Main by 5.7% during the 4th quarter. Amundi now owns 3,659,261 shares of the company's stock worth $186,722,000 after purchasing an additional 196,828 shares during the period. Finally, Impax Asset Management Group plc increased its position in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after purchasing an additional 1,416,907 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

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Insider Buying and Selling

In related news, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the sale, the chief accounting officer now owns 4,120 shares in the company, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 103,305 shares of company stock worth $5,289,169. Corporate insiders own 3.49% of the company's stock.

Core & Main Stock Up 1.4 %

Shares of CNM traded up $0.65 during midday trading on Friday, hitting $48.83. The company had a trading volume of 542,733 shares, compared to its average volume of 2,283,811. The company's 50-day simple moving average is $49.89 and its 200-day simple moving average is $49.23. 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 1 year low of $37.22 and a 1 year high of $62.15. The firm has a market capitalization of $9.66 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the firm earned $0.34 EPS. The company's revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

CNM has been the subject of several research analyst reports. Royal Bank of Canada lowered their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Robert W. Baird lowered their price objective on shares of 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 initiated coverage on Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company raised their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Citigroup boosted their price objective on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.55.

Core & Main Company 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.