Jacobs Levy Equity Management Inc. Raises Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Jacobs Levy Equity Management Inc. raised its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 24.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,072 shares of the company's stock after buying an additional 38,023 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.10% of Core & Main worth $8,572,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CNM. FMR LLC lifted its stake in Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company's stock worth $386,151,000 after acquiring an additional 1,903,280 shares in the last quarter. Impax Asset Management Group plc lifted its stake in Core & Main by 373.0% during the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock worth $89,416,000 after acquiring an additional 1,588,117 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Core & Main by 37.1% during the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock worth $205,974,000 after acquiring an additional 1,137,817 shares in the last quarter. Anomaly Capital Management LP lifted its stake in Core & Main by 35.9% during the 2nd quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock worth $176,601,000 after acquiring an additional 953,489 shares in the last quarter. Finally, Fernbridge Capital Management LP acquired a new position in Core & Main during the 2nd quarter worth about $40,447,000. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Down 1.4 %

Shares of NYSE CNM traded down $0.74 during midday trading on Friday, hitting $53.88. 2,119,925 shares of the company's stock were exchanged, compared to its average volume of 2,602,868. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.34. Core & Main, Inc. has a twelve month low of $35.70 and a twelve month high of $62.15. The company has a market cap of $10.84 billion, a PE ratio of 25.64, a P/E/G ratio of 3.63 and a beta of 1.04. The firm's fifty day simple moving average is $45.44 and its 200-day simple moving average is $48.15.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 earnings per share. Research analysts predict that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Jeffrey D. Giles sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the transaction, the executive vice president now owns 11,615 shares of the company's stock, valued at approximately $635,456.65. The trade was a 68.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen O. Leclair sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total value of $10,976,000.00. Following the completion of the transaction, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,000 shares of company stock valued at $15,926,000 over the last quarter. Company insiders own 3.49% of the company's stock.

Analyst Ratings Changes

CNM has been the topic of several research reports. Barclays increased their target price on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday. Truist Financial lifted their price objective on Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday. The Goldman Sachs Group lifted their price objective on Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday. Robert W. Baird lifted their price objective on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $58.10.

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.