Core & Main, Inc. (NYSE:CNM) Stock Position Boosted by Impax Asset Management Group plc

Impax Asset Management Group plc grew its stake in shares of Core & Main, Inc. (NYSE:CNM) by 70.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,430,787 shares of the company’s stock after buying an additional 1,416,907 shares during the quarter. Impax Asset Management Group plc owned about 1.73% of Core & Main worth $174,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Ashton Thomas Securities LLC bought a new position in Core & Main during the 3rd quarter valued at $26,000. Avior Wealth Management LLC boosted its stake in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 271 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after acquiring an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the third quarter worth $49,000. Finally, Blue Trust Inc. raised its position in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after purchasing an additional 830 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Core & Main news, President Bradford A. Cowles sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the sale, the president now directly owns 18,423 shares of the company’s stock, valued at $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at $423,908.43. This represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 452,426 shares of company stock worth $24,285,825. Insiders own 3.49% of the company’s stock.

Analyst Ratings Changes

CNM has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Barclays lifted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Citigroup boosted their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.60.

Core & Main Trading Down 2.8 %

Core & Main stock opened at $50.97 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company’s fifty day simple moving average is $53.44 and its 200-day simple moving average is $48.72. The stock has a market cap of $10.13 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.61 and a beta of 1.03.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal 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.