Quadrature Capital Ltd Buys Shares of 60,168 Core & Main, Inc. (NYSE:CNM)

Quadrature Capital Ltd bought a new stake in shares of Core & Main, Inc. (NYSE:CNMFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 60,168 shares of the company’s stock, valued at approximately $2,431,000.

A number of other large investors also recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its position in Core & Main by 74.5% during the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after purchasing an additional 365 shares during the period. Quarry LP raised its position in shares of Core & Main by 87.0% in the 4th quarter. Quarry LP now owns 1,909 shares of the company’s stock valued at $77,000 after acquiring an additional 888 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Core & Main in the 3rd quarter valued at approximately $28,000. GAMMA Investing LLC acquired a new stake in shares of Core & Main in the 4th quarter valued at approximately $41,000. Finally, National Bank of Canada FI raised its position in shares of Core & Main by 8.3% in the 4th quarter. National Bank of Canada FI now owns 13,000 shares of the company’s stock valued at $515,000 after acquiring an additional 999 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Core & Main

In related news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total value of $2,975,000.00. Following the completion of the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at $1,421,931. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO John Weldon Stephens sold 5,503 shares of the firm’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $54.23, for a total value of $298,427.69. Following the completion of the transaction, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at $232,158.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total transaction of $2,975,000.00. Following the completion of the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at $1,421,931. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,000 shares of company stock valued at $13,191,217. 3.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of analyst reports. 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. Truist Financial cut their price target on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. JPMorgan Chase & Co. increased their price target on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 target price on shares of Core & Main in a report on Wednesday, June 5th. Finally, Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and raised their target price for the stock from $63.00 to $64.00 in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.

Check Out Our Latest Stock Analysis on CNM

Core & Main Price Performance

Shares of CNM opened at $50.55 on Tuesday. The stock has a market capitalization of $10.18 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.76 and a beta of 1.12. Core & Main, Inc. has a twelve month low of $27.75 and a twelve month high of $62.15. The company has a 50 day moving average of $56.14 and a 200-day moving average of $48.92. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46.

Core & Main (NYSE:CNMGet Free Report) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. Core & Main’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. As a group, equities research analysts forecast that Core & Main, Inc. will post 2.47 EPS for the current fiscal year.

About Core & Main

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Core & Main (NYSE:CNM)

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