Polar Capital Holdings Plc Has $11.62 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Polar Capital Holdings Plc boosted its stake in Core & Main, Inc. (NYSE:CNM) by 23.9% in the fourth quarter, HoldingsChannel reports. The firm owned 228,178 shares of the company’s stock after buying an additional 43,982 shares during the period. Polar Capital Holdings Plc’s holdings in Core & Main were worth $11,617,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CNM. Fifth Third Wealth Advisors LLC grew its holdings in Core & Main by 4.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $286,000 after purchasing an additional 258 shares during the period. Ritholtz Wealth Management grew its holdings in Core & Main by 4.3% in the fourth quarter. Ritholtz Wealth Management now owns 14,647 shares of the company’s stock worth $746,000 after purchasing an additional 601 shares during the period. Border to Coast Pensions Partnership Ltd grew its holdings in Core & Main by 11.8% in the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 469,842 shares of the company’s stock worth $23,904,000 after purchasing an additional 49,619 shares during the period. Avanza Fonder AB acquired a new position in shares of Core & Main during the fourth quarter valued at about $97,000. Finally, UMB Bank n.a. grew its holdings in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Trading Down 0.5%

Shares of CNM stock opened at $52.69 on Friday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The company has a 50-day simple moving average of $49.70 and a two-hundred day simple moving average of $50.37. The company has a market capitalization of $10.43 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 2.61 and a beta of 1.04.

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

Analysts Set New Price Targets

CNM has been the subject of a number of analyst reports. Royal Bank of Canada reduced their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Robert W. Baird reduced their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.55.

Insiders Place Their Bets

In other Core & Main news, CAO John Weldon Stephens sold 10,214 shares of the business’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the transaction, the chief accounting officer now directly owns 4,120 shares in the company, valued at $218,442.40. The trade was a 71.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. The trade was a 57.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,045 shares of company stock valued at $3,683,698. Corporate insiders own 3.49% of the company’s stock.

Core & Main Company 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.