Core & Main, Inc. (NYSE:CNM) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Core & Main, Inc. (NYSE:CNM) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 2,847,032 shares of the company’s stock after purchasing an additional 7,633 shares during the quarter. JPMorgan Chase & Co.’s holdings in Core & Main were worth $144,942,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CNM. Cerity Partners LLC lifted its holdings in Core & Main by 53.9% in the 3rd quarter. Cerity Partners LLC now owns 31,728 shares of the company’s stock worth $1,409,000 after buying an additional 11,118 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Core & Main by 11.6% in the third quarter. Captrust Financial Advisors now owns 29,444 shares of the company’s stock worth $1,307,000 after acquiring an additional 3,066 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Core & Main by 24.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 193,072 shares of the company’s stock valued at $8,572,000 after purchasing an additional 38,023 shares during the last quarter. Millburn Ridgefield Corp acquired a new stake in Core & Main during the 3rd quarter valued at approximately $118,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in Core & Main during the 3rd quarter worth approximately $3,024,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Citigroup boosted their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird lowered their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a report on Tuesday. They set a “buy” rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus target price of $57.55.

Insider Buying and Selling at Core & Main

In related news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The shares were 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. The trade was a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,294 shares of company stock valued at $9,383,685 in the last ninety days. Company insiders own 3.49% of the company’s stock.

Core & Main Trading Up 2.2 %

NYSE:CNM opened at $49.36 on Wednesday. The firm has a market capitalization of $9.81 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.61 and a beta of 1.05. The business has a 50 day simple moving average of $51.58 and a 200 day simple moving average of $49.07. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

Core & Main (NYSE:CNM) last announced 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). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm posted $0.34 EPS. The business’s revenue was up 17.9% compared to the same quarter last year. Equities research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

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.