Natixis Advisors L.P. Raises Position in Core & Main, Inc. (NYSE:CNM)

Natixis Advisors L.P. increased its stake in Core & Main, Inc. (NYSE:CNM) by 10.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 346,424 shares of the company’s stock after purchasing an additional 31,578 shares during the quarter. Natixis Advisors L.P.’s holdings in Core & Main were worth $13,997,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Core & Main in the third quarter valued at approximately $28,000. Kepos Capital LP purchased a new position in shares of Core & Main in the third quarter valued at $41,000. GAMMA Investing LLC acquired a new stake in Core & Main during the 4th quarter valued at $41,000. Whittier Trust Co. of Nevada Inc. increased its stake in Core & Main by 81.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company’s stock worth $50,000 after buying an additional 775 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Core & Main in the 4th quarter worth $95,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Core & Main news, CEO Stephen O. Leclair sold 150,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the completion of the transaction, the chief executive officer now directly owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Core & Main news, CEO Stephen O. Leclair sold 150,000 shares of Core & Main stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the sale, the chief executive officer now owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura K. Schneider sold 100,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.14, for a total value of $4,414,000.00. Following the transaction, the insider now directly owns 9,672 shares in the company, valued at $426,922.08. The disclosure for this sale can be found here. Insiders have sold a total of 520,500 shares of company stock valued at $25,511,067 in the last quarter. Company insiders own 3.49% of the company’s stock.

Core & Main Price Performance

CNM opened at $59.63 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average price is $54.60 and its 200 day moving average price is $43.91. Core & Main, Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $60.83. The firm has a market cap of $12.01 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the business posted $0.31 EPS. The business’s revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Wall Street Analyst Weigh In

CNM has been the topic of a number of analyst reports. Loop Capital lifted their target price on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. upped their target price on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Barclays raised their price target on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group upped their price target on shares of Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Finally, Royal Bank of Canada raised their price objective on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price of $50.08.

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.