Bryce Point Capital LLC Takes Position in Core & Main, Inc. (NYSE:CNM)

Bryce Point Capital LLC bought a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 34,736 shares of the company's stock, valued at approximately $1,768,000. Core & Main makes up approximately 0.5% of Bryce Point Capital LLC's investment portfolio, making the stock its 28th biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Core & Main by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock valued at $84,855,000 after acquiring an additional 122,240 shares during the last quarter. Impax Asset Management Group plc increased its holdings in 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 valued at $174,661,000 after purchasing an additional 1,416,907 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Core & Main in the 3rd quarter valued at $774,000. Asset Management One Co. Ltd. boosted its stake in Core & Main by 13.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock worth $3,331,000 after purchasing an additional 7,565 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after purchasing an additional 221,970 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNM. 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. Robert W. Baird dropped their target price on shares of 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 initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company boosted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada reduced their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $57.55.

Insider Activity at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at approximately $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 sale, the executive vice president now directly owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,257 shares of company stock worth $11,501,977. 3.49% of the stock is currently owned by company insiders.

Core & Main Trading Down 3.3 %

Shares of NYSE:CNM traded down $1.51 during midday trading on Monday, hitting $44.63. The company had a trading volume of 1,044,764 shares, compared to its average volume of 1,950,107. 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, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The firm has a fifty day simple moving average of $51.06 and a 200 day simple moving average of $49.19. The stock has a market cap of $8.83 billion, a price-to-earnings ratio of 20.97, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main's quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. On average, analysts predict 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.