ExodusPoint Capital Management LP Has $15.71 Million Stake in Core & Main, Inc. (NYSE:CNM)

ExodusPoint Capital Management LP boosted its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 2,774.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,478 shares of the company's stock after buying an additional 297,746 shares during the quarter. ExodusPoint Capital Management LP owned 0.16% of Core & Main worth $15,705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its stake in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after acquiring an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main in the 3rd quarter valued at about $49,000. UMB Bank n.a. lifted its position in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after purchasing an additional 684 shares during the last quarter. Blue Trust Inc. grew its stake in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after purchasing an additional 830 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Core & Main in the fourth quarter valued at about $78,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNM has been the topic of several research reports. Royal Bank of Canada dropped their price objective on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. 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 report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and a consensus target price of $57.55.

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Insider Buying and Selling at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $207,977.60. This represents a 91.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares in the company, valued at $387,106.83. This trade represents a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 226,257 shares of company stock valued at $11,501,977. 3.49% of the stock is currently owned by company insiders.

Core & Main Stock Performance

Shares of CNM stock traded up $4.52 during trading hours on Wednesday, reaching $49.05. 3,523,277 shares of the company's stock were exchanged, compared to its average volume of 2,290,497. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $9.71 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.61 and a beta of 1.05. The business has a fifty day moving average price of $50.05 and a 200-day moving average price of $49.20.

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

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.