Asset Management One Co. Ltd. Increases Stake in Core & Main, Inc. (NYSE:CNM)

Asset Management One Co. Ltd. raised its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 13.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,284 shares of the company's stock after purchasing an additional 7,565 shares during the period. Asset Management One Co. Ltd.'s holdings in Core & Main were worth $3,331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CNM. PointState Capital LP bought a new position in shares of Core & Main during the third quarter valued at approximately $100,013,000. FMR LLC grew its stake in shares of Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company's stock valued at $386,151,000 after buying an additional 1,903,280 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Core & Main by 373.0% during the third quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock valued at $89,416,000 after buying an additional 1,588,117 shares during the last quarter. Spruce House Investment Management LLC grew its stake in shares of Core & Main by 400.0% during the third quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company's stock valued at $66,600,000 after buying an additional 1,200,000 shares during the last quarter. Finally, Zimmer Partners LP grew its stake in Core & Main by 535.6% in the third quarter. Zimmer Partners LP now owns 1,303,000 shares of the company's stock worth $57,853,000 after purchasing an additional 1,098,000 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Down 2.2 %

NYSE CNM traded down $1.15 during midday trading on Friday, hitting $51.27. 1,101,599 shares of the company traded hands, compared to its average volume of 1,458,875. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The company's 50-day simple moving average is $53.46 and its 200-day simple moving average is $48.68. 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 company has a market cap of $10.19 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 2.66 and a beta of 1.03.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CNM has been the topic of several research analyst reports. The Goldman Sachs Group increased their price objective on Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, December 5th. Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Barclays increased their price objective on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Loop Capital increased their price objective on Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price objective on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Core & Main currently has an average rating of "Moderate Buy" and a consensus target price of $57.60.

Insider Buying and Selling

In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the completion of the transaction, the general counsel now owns 7,667 shares of the company's stock, valued at approximately $387,106.83. This represents a 86.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 25,000 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares of the company's stock, valued at $872,224.80. The trade was a 60.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 452,426 shares of company stock worth $24,285,825 in the last 90 days. Insiders own 3.49% of the company's stock.

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.