Trexquant Investment LP Makes New Investment in Core & Main, Inc. (NYSE:CNM)

Trexquant Investment LP purchased a new stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 42,661 shares of the company's stock, valued at approximately $2,172,000.

Several other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in Core & Main by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after acquiring an additional 122,240 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after acquiring an additional 1,416,907 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Core & Main during the 3rd quarter valued at about $774,000. Asset Management One Co. Ltd. lifted its holdings in Core & Main by 13.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock worth $3,331,000 after purchasing an additional 7,565 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after purchasing an additional 221,970 shares during the period. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Performance

Core & Main stock traded up $0.44 on Monday, hitting $49.19. The company's stock had a trading volume of 92,406 shares, compared to its average volume of 2,291,015. The company has a fifty day moving average price of $49.77 and a 200-day moving average price of $49.29. The firm has a market cap of $9.73 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Remove Ads

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business's revenue for the quarter was up 17.9% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. On average, equities analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

CNM has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. Royal Bank of Canada cut their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Robert W. Baird dropped their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Finally, Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. One equities research 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.55.

Insider Activity at Core & Main

In related news, EVP John R. Schaller sold 21,868 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now directly owns 16,452 shares in the company, valued at $770,282.64. This represents a 57.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 103,305 shares of company stock valued at $5,289,169 in the last 90 days. 3.49% of the stock is owned by corporate insiders.

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.