Oak Thistle LLC Invests $1.62 Million in Core & Main, Inc. (NYSE:CNM)

Oak Thistle LLC purchased a new position in Core & Main, Inc. (NYSE:CNM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,787 shares of the company's stock, valued at approximately $1,618,000.

Several other hedge funds have also modified their holdings of the stock. Ashton Thomas Securities LLC purchased a new stake in Core & Main during the 3rd quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in shares of Core & Main during the third quarter worth about $31,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the third quarter worth approximately $49,000. GAMMA Investing LLC increased its stake in shares of Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock worth $60,000 after buying an additional 511 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in Core & Main in the second quarter valued at approximately $76,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CNM shares. Royal Bank of Canada reiterated an "outperform" rating and set a $62.00 price target (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Loop Capital boosted their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Citigroup raised their price target on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Wells Fargo & Company lifted their price target on Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, Barclays increased their price objective on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.30.

Insider Activity

In related news, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total value of $675,875.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at $865,660.70. This trade represents a 43.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey D. Giles sold 25,000 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was 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 owns 11,615 shares of the company's stock, valued at approximately $635,456.65. The trade was a 68.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 425,452 shares of company stock valued at $22,814,683. Insiders own 3.49% of the company's stock.

Core & Main Stock Performance

NYSE:CNM traded up $0.21 during mid-day trading on Wednesday, reaching $54.16. 1,583,540 shares of the stock were exchanged, compared to its average volume of 1,601,287. 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 1 year low of $37.22 and a 1 year high of $62.15. The company has a 50 day simple moving average of $49.42 and a 200-day simple moving average of $47.83. The stock has a market capitalization of $10.76 billion, a P/E ratio of 25.43, a P/E/G ratio of 2.95 and a beta of 1.02.

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