Abacus FCF Advisors LLC Buys 12,279 Shares of Core & Main, Inc. (NYSE:CNM)

Abacus FCF Advisors LLC raised its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 55.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,248 shares of the company's stock after acquiring an additional 12,279 shares during the quarter. Abacus FCF Advisors LLC's holdings in Core & Main were worth $1,744,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of Core & Main by 498.7% during the 4th quarter. Renaissance Technologies LLC now owns 448,400 shares of the company's stock valued at $22,828,000 after acquiring an additional 373,500 shares during the period. Invesco Ltd. lifted its holdings in shares of Core & Main by 0.8% in the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock worth $301,722,000 after purchasing an additional 44,513 shares in the last quarter. Bell Asset Management Ltd acquired a new position in Core & Main during the fourth quarter worth $7,619,000. FMR LLC lifted its position in Core & Main by 4.1% in the 4th quarter. FMR LLC now owns 9,055,993 shares of the company's stock valued at $461,041,000 after acquiring an additional 358,909 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Core & Main by 4,757.9% in the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock worth $57,953,000 after purchasing an additional 1,114,913 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was 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 $423,908.43. This trade represents a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total value of $675,875.00. Following the transaction, the president now owns 16,010 shares in the company, valued at $865,660.70. This trade represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,305 shares of company stock worth $5,289,169. 3.49% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CNM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Royal Bank of Canada cut their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Citigroup lifted their target price on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Finally, Robert W. Baird decreased their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $57.55.

Core & Main Price Performance

Shares of Core & Main stock traded up $0.32 on Monday, reaching $49.07. The stock had a trading volume of 246,140 shares, compared to its average volume of 2,291,600. The business's 50 day moving average is $49.77 and its two-hundred day moving average is $49.29. The company has a market cap of $9.71 billion, a P/E ratio of 23.04, a price-to-earnings-growth 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 current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM - Get Free Report) last released 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). 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 during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the company posted $0.34 EPS. The company's revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

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.