Y Intercept Hong Kong Ltd Acquires Shares of 15,280 Core & Main, Inc. (NYSE:CNM)

Y Intercept Hong Kong Ltd bought a new position in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, HoldingsChannel reports. The firm bought 15,280 shares of the company’s stock, valued at approximately $778,000.

Other institutional investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. lifted its position in shares of Core & Main by 2.6% during the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after acquiring an additional 44,282 shares in the last quarter. Quest Partners LLC lifted its position in shares of Core & Main by 1,195,600.0% during the third quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock worth $531,000 after acquiring an additional 11,956 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Core & Main during the third quarter worth $774,000. South Street Advisors LLC lifted its position in shares of Core & Main by 36.0% during the third quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock worth $10,396,000 after acquiring an additional 61,962 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC lifted its position in shares of Core & Main by 23.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock worth $3,120,000 after acquiring an additional 13,263 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial increased their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Barclays increased their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Loop Capital increased their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the stock 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 assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Core & Main Trading Down 0.0 %

Shares of CNM stock opened at $51.02 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average price of $53.37 and a two-hundred day moving average price of $48.77. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The firm has a market cap of $10.14 billion, a P/E ratio of 23.95, a price-to-earnings-growth ratio of 2.61 and a beta of 1.03.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue was up 11.5% compared to the same quarter last year. Equities analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Margaret Newman sold 15,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total value of $828,750.00. Following the transaction, the director now owns 11,769 shares in the company, valued at approximately $650,237.25. The trade was a 56.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the transaction, the president now owns 18,423 shares in the company, valued at approximately $1,014,554.61. This represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 452,426 shares of company stock valued at $24,285,825 over the last 90 days. Insiders own 3.49% of the company’s stock.

About Core & Main

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.