Core & Main, Inc. (NYSE:CNM) Shares Acquired by Pembroke Management LTD

Pembroke Management LTD boosted its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 609,631 shares of the company's stock after purchasing an additional 35,687 shares during the period. Core & Main makes up 4.0% of Pembroke Management LTD's holdings, making the stock its 4th biggest holding. Pembroke Management LTD owned 0.31% of Core & Main worth $31,036,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CNM. PointState Capital LP purchased a new stake in shares of Core & Main in the 3rd quarter valued at approximately $100,013,000. FMR LLC raised its stake in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company's stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the period. Impax Asset Management Group plc raised its stake in shares of Core & Main by 373.0% in the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock valued at $89,416,000 after acquiring an additional 1,588,117 shares during the period. Spruce House Investment Management LLC raised its stake in shares of Core & Main by 400.0% in the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company's stock valued at $66,600,000 after acquiring an additional 1,200,000 shares during the period. Finally, Zimmer Partners LP raised its stake in shares of Core & Main by 535.6% in the 3rd quarter. Zimmer Partners LP now owns 1,303,000 shares of the company's stock valued at $57,853,000 after acquiring an additional 1,098,000 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the business's 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 completion of the transaction, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. The trade was a 86.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Bradford A. Cowles sold 25,000 shares of the company's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the transaction, the president now owns 16,010 shares of the company's stock, valued at approximately $872,224.80. The trade was a 60.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 452,426 shares of company stock worth $24,285,825 in the last 90 days. Corporate insiders own 3.49% of the company's stock.

Core & Main Stock Down 2.8 %

NYSE CNM traded down $1.46 on Friday, hitting $50.97. 2,057,465 shares of the stock were exchanged, compared to its average volume of 1,490,017. 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 fifty-two week low of $37.22 and a fifty-two week high of $62.15. The company has a market cap of $10.13 billion, a PE ratio of 23.93, a PEG ratio of 2.66 and a beta of 1.03. The company has a 50-day moving average price of $53.44 and a 200-day moving average price of $48.70.

Core & Main (NYSE:CNM - Get Free Report) last posted 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. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.99 billion. During the same quarter in the previous year, the business posted $0.65 EPS. The firm's revenue was up 11.5% on a year-over-year basis. Sell-side analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

CNM has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Truist Financial boosted their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Loop Capital lifted their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.60.

Core & Main 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.