Y Intercept Hong Kong Ltd Purchases New Holdings in Core & Main, Inc. (NYSE:CNM)

Y Intercept Hong Kong Ltd acquired a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,280 shares of the company's stock, valued at approximately $778,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in shares of Core & Main during the third quarter worth about $2,240,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Core & Main during the 3rd quarter worth approximately $93,000. DekaBank Deutsche Girozentrale raised its stake in shares of Core & Main by 21.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,276 shares of the company's stock worth $1,211,000 after buying an additional 4,782 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Core & Main by 21.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,405 shares of the company's stock valued at $994,000 after buying an additional 3,900 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of Core & Main by 3.8% in the third quarter. New York State Teachers Retirement System now owns 89,978 shares of the company's stock valued at $3,995,000 after buying an additional 3,318 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Down 2.2 %

Shares of CNM stock traded down $1.09 on Tuesday, reaching $48.19. 1,484,422 shares of the company's stock traded hands, compared to its average volume of 2,272,816. The company has a market capitalization of $9.57 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 2.61 and a beta of 1.03. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The business's 50 day moving average price is $53.33 and its two-hundred day moving average price is $48.74.

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

Wall Street Analyst Weigh In

CNM has been the topic of several recent research reports. Truist Financial upped their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Royal Bank of Canada restated an "outperform" rating and issued a $62.00 price objective (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price 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. The Goldman Sachs Group raised their price target on shares of Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, December 5th. Finally, Barclays increased their target price on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $57.60.

Insider Activity at Core & Main

In other news, EVP John R. Schaller sold 60,452 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares of the company's stock, valued at approximately $905,101.86. This represents a 77.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $387,106.83. This trade represents a 86.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,426 shares of company stock valued at $8,359,825. 3.49% of the stock is currently owned by corporate insiders.

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.