Boothbay Fund Management LLC acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM – Get Rating) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,657 shares of the company’s stock, valued at approximately $402,000.
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Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Core & Main by 83.9% during the 1st quarter. JPMorgan Chase & Co. now owns 114,575 shares of the company’s stock valued at $2,772,000 after buying an additional 52,285 shares during the last quarter. Bank of New York Mellon Corp raised its position in Core & Main by 68.4% during the first quarter. Bank of New York Mellon Corp now owns 134,101 shares of the company’s stock valued at $3,245,000 after acquiring an additional 54,460 shares in the last quarter. Bank of Montreal Can acquired a new stake in Core & Main in the first quarter valued at approximately $1,208,000. Acadian Asset Management LLC bought a new stake in Core & Main in the first quarter worth approximately $364,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Core & Main during the 1st quarter worth $58,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.
Core & Main Trading Up 1.2 %
Shares of CNM stock opened at $23.58 on Thursday. The firm has a market capitalization of $5.80 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. Core & Main, Inc. has a 1 year low of $18.75 and a 1 year high of $26.63. The firm’s fifty day simple moving average is $21.49 and its 200 day simple moving average is $22.07. The company has a current ratio of 2.49, a quick ratio of 1.32 and a debt-to-equity ratio of 0.65.
Core & Main (NYSE:CNM – Get Rating) last posted its quarterly earnings results on Tuesday, December 13th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Core & Main had a net margin of 5.52% and a return on equity of 22.01%. As a group, sell-side analysts predict that Core & Main, Inc. will post 2.15 EPS for the current year.
Wall Street Analysts Forecast Growth
CNM has been the subject of several analyst reports. Credit Suisse Group reduced their price objective on shares of Core & Main from $32.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, December 15th. Deutsche Bank Aktiengesellschaft decreased their price target on Core & Main from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, January 10th. The Goldman Sachs Group cut their price objective on Core & Main from $29.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, December 15th. Truist Financial decreased their target price on Core & Main to $22.00 in a research report on Wednesday, December 14th. Finally, Royal Bank of Canada increased their price target on Core & Main from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, December 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.44.
Insider Activity at Core & Main
In other news, General Counsel Mark G. Whittenburg sold 6,411 shares of Core & Main stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $23.06, for a total transaction of $147,837.66. Following the sale, the general counsel now owns 5,286 shares of the company’s stock, valued at approximately $121,895.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Mark G. Whittenburg sold 6,411 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $23.06, for a total transaction of $147,837.66. Following the completion of the transaction, the general counsel now directly owns 5,286 shares of the company’s stock, valued at approximately $121,895.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 24,793 shares of the company’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $23.04, for a total transaction of $571,230.72. Following the completion of the sale, the general counsel now directly owns 5,286 shares in the company, valued at approximately $121,789.44. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Core & Main 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 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, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.
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