Geode Capital Management LLC Has $144.87 Million Position in Core & Main, Inc. (NYSE:CNM)

Geode Capital Management LLC grew its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 14.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,261,964 shares of the company's stock after purchasing an additional 412,520 shares during the quarter. Geode Capital Management LLC owned approximately 1.62% of Core & Main worth $144,869,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Core & Main during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new position in Core & Main during the 3rd quarter worth approximately $31,000. GAMMA Investing LLC boosted its stake in Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock worth $60,000 after acquiring an additional 511 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Core & Main during the 2nd quarter worth approximately $76,000. Finally, CWM LLC boosted its stake in Core & Main by 25.6% during the 2nd quarter. CWM LLC now owns 1,638 shares of the company's stock worth $80,000 after acquiring an additional 334 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Insider Buying and Selling

In related news, EVP Jeffrey D. Giles sold 25,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the transaction, the executive vice president now directly owns 11,615 shares in the company, valued at approximately $635,456.65. The trade was a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the transaction, the president now owns 18,423 shares in the company, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,000 shares of company stock worth $15,926,000. Insiders own 3.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CNM shares. Barclays lifted their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price target on shares of Core & Main from $52.00 to $62.00 and gave the company an "overweight" rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. cut their price target on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 3rd. The Goldman Sachs Group lifted their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. Finally, Truist Financial lifted their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $58.10.

Core & Main Stock Down 1.7 %

Shares of NYSE CNM traded down $0.92 during midday trading on Tuesday, reaching $51.99. The company's stock had a trading volume of 1,864,282 shares, compared to its average volume of 2,581,868. 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 fifty-two week low of $37.22 and a fifty-two week high of $62.15. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.95 and a beta of 1.04. The stock has a 50 day simple moving average of $46.93 and a 200-day simple moving average of $47.65.

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

Core & Main Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.