Union Bancaire Privee UBP SA Takes $2.70 Million Position in Core & Main, Inc. (NYSE:CNM)

Union Bancaire Privee UBP SA acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 52,956 shares of the company’s stock, valued at approximately $2,702,000.

Several other hedge funds and other institutional investors also recently modified their holdings of CNM. FMR LLC grew its position in Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares in the last quarter. State Street Corp increased its stake in Core & Main by 9.7% in the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after purchasing an additional 489,224 shares during the period. Pacer Advisors Inc. raised its holdings in Core & Main by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after buying an additional 41,521 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in shares of Core & Main by 39.9% during the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after acquiring an additional 1,073,451 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Core & Main by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,261,964 shares of the company’s stock valued at $144,869,000 after purchasing an additional 412,520 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 0.6 %

CNM stock opened at $56.08 on Tuesday. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The stock has a market cap of $11.14 billion, a P/E ratio of 26.33, a PEG ratio of 3.16 and a beta of 1.02. The business’s 50-day moving average price is $51.63 and its 200-day moving average price is $48.26. 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 (NYSE:CNM) last posted its quarterly 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 business had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the firm earned $0.65 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $387,106.83. This represents a 86.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the transaction, the chief executive officer now owns 92,349 shares of the company’s stock, valued at $5,068,113.12. This trade represents a 68.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 427,426 shares of company stock worth $22,923,825. 3.49% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on CNM shares. Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Citigroup increased their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Robert W. Baird lifted their price objective on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their target price on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.30.

About Core & Main

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.