Union Bancaire Privee UBP SA Purchases Shares of 52,956 Core & Main, Inc. (NYSE:CNM)

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Core & Main in the 3rd quarter valued at approximately $26,000. Avior Wealth Management LLC lifted its position 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 purchasing an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the 3rd quarter worth $49,000. UMB Bank n.a. lifted its position in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Core & Main by 187.4% during the 4th 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 last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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. Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Loop Capital lifted their price objective on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Truist Financial lifted their price objective 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

Insider Activity

In other news, EVP Jeffrey D. Giles sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the sale, the executive vice president now directly owns 11,615 shares of the company’s stock, valued at approximately $635,456.65. This represents a 68.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 452,426 shares of company stock valued at $24,285,825. Insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $50.97 on Monday. 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 firm has a market capitalization 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, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company’s fifty day moving average price is $53.44 and its 200 day moving average price is $48.72.

Core & Main (NYSE:CNM) last announced 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 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 period in the prior year, the company earned $0.65 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share 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.