Core & Main, Inc. (NYSE:CNM) Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Core & Main, Inc. (NYSE:CNM) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,261,964 shares of the company’s stock after purchasing an additional 412,520 shares during the period. Geode Capital Management LLC owned 1.62% of Core & Main worth $144,869,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in Core & Main during the third quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of Core & Main during the 3rd quarter worth $31,000. GAMMA Investing LLC raised its holdings in shares of Core & Main by 61.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Core & Main in the 2nd quarter valued at $76,000. Finally, CWM LLC boosted its holdings in Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company’s stock worth $80,000 after purchasing an additional 334 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Price Performance

NYSE:CNM opened at $52.91 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock has a market cap of $10.64 billion, a P/E ratio of 24.84, a PEG ratio of 2.95 and a beta of 1.04. The company has a fifty day moving average price of $46.74 and a 200 day moving average price of $47.69. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue was up 11.5% on a year-over-year basis. Analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

CNM has been the topic of several recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $62.00 target price (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Barclays lifted their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. One 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. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.10.

Insider Transactions at Core & Main

In other news, Director Margaret Newman sold 15,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total transaction of $828,750.00. Following the sale, the director now directly owns 11,769 shares in the company, valued at approximately $650,237.25. The trade was a 56.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey D. Giles sold 25,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the completion of the transaction, the executive vice president now directly owns 11,615 shares of the company’s stock, valued at $635,456.65. This trade represents a 68.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,000 shares of company stock valued at $15,926,000. 3.49% of the stock is owned by corporate insiders.

Core & Main Company 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 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.