Xponance Inc. Makes New Investment in Core & Main, Inc. (NYSE:CNM)

Xponance Inc. bought a new position in Core & Main, Inc. (NYSE:CNM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 16,415 shares of the company’s stock, valued at approximately $663,000.

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in Core & Main by 14.3% in the third quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company’s stock worth $273,812,000 after buying an additional 1,187,700 shares during the last quarter. FMR LLC increased its position in Core & Main by 51.1% in the third quarter. FMR LLC now owns 7,865,719 shares of the company’s stock worth $226,926,000 after buying an additional 2,660,097 shares during the last quarter. Robeco Schweiz AG increased its position in Core & Main by 7.6% in the third quarter. Robeco Schweiz AG now owns 2,925,109 shares of the company’s stock worth $84,389,000 after buying an additional 206,509 shares during the last quarter. Invesco Ltd. grew its position in shares of Core & Main by 22.7% in the third quarter. Invesco Ltd. now owns 2,493,056 shares of the company’s stock valued at $71,925,000 after purchasing an additional 461,393 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Core & Main by 7.4% in the third quarter. Ameriprise Financial Inc. now owns 2,335,056 shares of the company’s stock valued at $67,366,000 after purchasing an additional 159,931 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNM. Loop Capital lifted their price target on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price target on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Truist Financial reiterated a “hold” rating and issued a $38.00 price target on shares of Core & Main in a research report on Wednesday, March 20th. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and lifted their price target for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Finally, Barclays lifted their price target on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Core & Main Price Performance

NYSE:CNM opened at $57.31 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. The stock has a fifty day moving average of $53.15 and a 200 day moving average of $42.63. Core & Main, Inc. has a 52-week low of $25.18 and a 52-week high of $60.83. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 1.74 and a beta of 1.15.

Core & Main (NYSE:CNM) last issued 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 firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. On average, research analysts expect that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core & Main news, VP Jeffrey D. Giles sold 40,000 shares of Core & Main stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the completion of the sale, the vice president now owns 8,217 shares of the company’s stock, valued at $362,698.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Core & Main news, VP Jeffrey D. Giles sold 40,000 shares of Core & Main stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the completion of the sale, the vice president now owns 8,217 shares of the company’s stock, valued at $362,698.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Laura K. Schneider sold 100,000 shares of Core & Main stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total value of $4,414,000.00. Following the sale, the insider now directly owns 9,672 shares of the company’s stock, valued at approximately $426,922.08. The disclosure for this sale can be found here. Insiders sold a total of 520,500 shares of company stock valued at $25,511,067 over the last 90 days. Insiders own 3.49% of the company’s stock.

Core & Main 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.