New Age Alpha Advisors LLC Purchases New Position in Core & Main, Inc. (NYSE:CNM)

New Age Alpha Advisors LLC purchased a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 24,109 shares of the company's stock, valued at approximately $1,227,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNM. Norges Bank purchased a new position in Core & Main in the fourth quarter worth approximately $99,734,000. Caisse Des Depots ET Consignations acquired a new position in shares of Core & Main in the 4th quarter valued at $999,000. JPMorgan Chase & Co. grew its holdings in shares of Core & Main by 0.3% during the 4th quarter. JPMorgan Chase & Co. now owns 2,847,032 shares of the company's stock worth $144,942,000 after purchasing an additional 7,633 shares during the period. United Services Automobile Association increased its position in shares of Core & Main by 7.9% during the 4th quarter. United Services Automobile Association now owns 12,332 shares of the company's stock worth $628,000 after purchasing an additional 907 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Core & Main by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after buying an additional 221,970 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Down 2.3 %

NYSE CNM traded down $1.07 during trading hours on Friday, hitting $46.12. 3,588,755 shares of the company were exchanged, compared to its average volume of 2,281,609. 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 firm has a market cap of $9.16 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.61 and a beta of 1.05. The company has a 50 day moving average of $51.06 and a two-hundred day moving average of $49.10. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15.

Remove Ads

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). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The firm's quarterly revenue was up 17.9% on a year-over-year basis. Equities research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Transactions at Core & Main

In other Core & Main news, EVP John R. Schaller sold 60,452 shares of the firm's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.57, for a total value of $3,057,057.64. Following the sale, the executive vice president now directly owns 17,898 shares in the company, valued at $905,101.86. This trade represents a 77.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the sale, the president now directly owns 16,010 shares of the company's stock, valued at $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 184,294 shares of company stock valued at $9,383,685. Insiders own 3.49% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. 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 report on Thursday, December 5th. Citigroup lifted their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company upped their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Robert W. Baird dropped their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research note on Tuesday. They set a "buy" rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $57.55.

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.