Geode Capital Management LLC Has $167.48 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Geode Capital Management LLC raised its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,288,763 shares of the company's stock after acquiring an additional 26,799 shares during the quarter. Geode Capital Management LLC owned about 1.66% of Core & Main worth $167,483,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Core & Main during the fourth quarter worth approximately $115,555,000. Norges Bank acquired a new position in Core & Main in the 4th quarter valued at $99,734,000. Impax Asset Management Group plc grew its holdings in Core & Main by 70.4% in 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 buying an additional 1,416,907 shares in the last quarter. Schroder Investment Management Group increased its position in Core & Main by 1,259.4% during the 4th quarter. Schroder Investment Management Group now owns 556,891 shares of the company's stock worth $28,351,000 after buying an additional 515,925 shares during the period. Finally, State Street Corp lifted its holdings in shares of Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company's stock worth $245,177,000 after buying an additional 489,224 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of the business's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total transaction of $675,875.00. Following the sale, the president now owns 16,010 shares of the company's stock, valued at approximately $865,660.70. The trade was a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,305 shares of company stock valued at $5,289,169. 3.49% of the stock is owned by insiders.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CNM shares. Citigroup upped their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Robert W. Baird cut 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. Royal Bank of Canada lowered their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. Finally, Wells Fargo & Company raised 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 seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and an average target price of $57.55.

Core & Main Price Performance

Shares of CNM traded up $0.51 during midday trading on Friday, hitting $48.69. The company's stock had a trading volume of 2,337,560 shares, compared to its average volume of 2,295,220. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The company's fifty day simple moving average is $49.77 and its two-hundred day simple moving average is $49.26.

Core & Main (NYSE:CNM - Get Free Report) last released 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 business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business's revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, equities analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

About Core & Main

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.