Aster Capital Management DIFC Ltd Makes New $805,000 Investment in Core & Main, Inc. (NYSE:CNM)

Aster Capital Management DIFC Ltd purchased a new stake in Core & Main, Inc. (NYSE:CNM) during the 4th quarter, Holdings Channel reports. The firm purchased 15,814 shares of the company’s stock, valued at approximately $805,000.

Several other large investors have also modified their holdings of CNM. Avior Wealth Management LLC lifted its stake in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main in the third quarter worth $49,000. UMB Bank n.a. lifted its position in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after acquiring an additional 278 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake 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 valued at $65,000 after acquiring an additional 830 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the transaction, the president now owns 16,010 shares in the company, valued at approximately $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,257 shares of company stock valued at $11,501,977 in the last three months. Corporate insiders own 3.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNM. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price for the company. Robert W. Baird reduced their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. 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 note on Tuesday, February 4th. Citigroup boosted their price target on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada decreased their price objective on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and an average price target of $57.55.

Core & Main Stock Down 2.3 %

Shares of CNM opened at $46.12 on Friday. The firm has a market cap of $9.13 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company’s fifty day moving average is $51.06 and its two-hundred day moving average is $49.15. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. Analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current 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.