Lisanti Capital Growth LLC Makes New $6.36 Million Investment in Core & Main, Inc. (NYSE:CNM)

Lisanti Capital Growth LLC purchased a new position in shares of Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 157,470 shares of the company’s stock, valued at approximately $6,363,000. Core & Main makes up approximately 1.5% of Lisanti Capital Growth LLC’s holdings, making the stock its 16th biggest holding. Lisanti Capital Growth LLC owned approximately 0.07% of Core & Main at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Core & Main by 14.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company’s stock worth $273,812,000 after acquiring an additional 1,187,700 shares in the last quarter. FMR LLC increased its holdings in Core & Main by 51.1% during the third quarter. FMR LLC now owns 7,865,719 shares of the company’s stock valued at $226,926,000 after buying an additional 2,660,097 shares during the period. Robeco Schweiz AG raised its stake in Core & Main by 7.6% in the third quarter. Robeco Schweiz AG now owns 2,925,109 shares of the company’s stock worth $84,389,000 after buying an additional 206,509 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Core & Main by 180.1% during the fourth quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock worth $109,405,000 after buying an additional 1,740,685 shares during the period. Finally, Invesco Ltd. boosted its position in Core & Main by 22.7% during the 3rd quarter. Invesco Ltd. now owns 2,493,056 shares of the company’s stock valued at $71,925,000 after acquiring an additional 461,393 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. Loop Capital increased their price target on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Royal Bank of Canada lifted their price objective on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group increased their target price on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $38.00 price target on shares of Core & Main in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price of $50.08.

Insider Buying and Selling at Core & Main

In other news, VP John Weldon Stephens sold 1,100 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $50.02, for a total value of $55,022.00. Following the sale, the vice president now owns 3,468 shares in the company, valued at $173,469.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Core & Main news, VP Jeffrey D. Giles sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $44.14, for a total value of $1,765,600.00. Following the sale, the vice president now owns 8,217 shares in the company, valued at approximately $362,698.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP John Weldon Stephens sold 1,100 shares of Core & Main stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $50.02, for a total transaction of $55,022.00. Following the transaction, the vice president now directly owns 3,468 shares of the company’s stock, valued at $173,469.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 520,500 shares of company stock worth $25,511,067. Company insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

CNM traded up $0.99 on Monday, reaching $59.51. 1,300,558 shares of the stock were exchanged, compared to its average volume of 2,705,709. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The company’s 50-day moving average price is $54.36 and its 200 day moving average price is $43.70. The firm has a market capitalization of $11.98 billion, a PE ratio of 27.68, a PEG ratio of 1.81 and a beta of 1.14. Core & Main, Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $60.83.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Core & Main Company 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.