Core & Main, Inc. (NYSE:CNM) Position Increased by Wellington Management Group LLP

Wellington Management Group LLP increased its position in shares of Core & Main, Inc. (NYSE:CNM) by 486.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 350,547 shares of the company’s stock after buying an additional 290,792 shares during the quarter. Wellington Management Group LLP’s holdings in Core & Main were worth $14,166,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC increased its position in Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after buying an additional 365 shares during the last quarter. Kepos Capital LP acquired a new position in Core & Main during the third quarter worth $41,000. GAMMA Investing LLC acquired a new position in Core & Main during the fourth quarter worth $41,000. Principal Securities Inc. acquired a new position in Core & Main during the fourth quarter worth $43,000. Finally, Quarry LP increased its position in Core & Main by 87.0% during the fourth quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after buying an additional 888 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Core & Main

In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total transaction of $2,975,000.00. Following the completion of the transaction, the chief financial officer now owns 23,898 shares in the company, valued at $1,421,931. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $59.50, for a total transaction of $2,975,000.00. Following the completion of the transaction, the chief financial officer now owns 23,898 shares in the company, valued at $1,421,931. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO John Weldon Stephens sold 5,503 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.23, for a total transaction of $298,427.69. Following the transaction, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at approximately $232,158.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 165,000 shares of company stock worth $9,427,067. Company insiders own 3.49% of the company’s stock.

Core & Main Stock Down 1.4 %

NYSE CNM opened at $49.01 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14. The firm has a 50-day simple moving average of $55.38 and a 200 day simple moving average of $49.53. Core & Main, Inc. has a twelve month low of $27.75 and a twelve month high of $62.15. The stock has a market cap of $9.87 billion, a PE ratio of 22.90, a PEG ratio of 1.88 and a beta of 1.12.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the business posted $0.50 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Core & Main, Inc. will post 2.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CNM shares. Truist Financial lowered their target price on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. The Goldman Sachs Group raised their price target on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. raised 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. Barclays raised 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Core & Main in a research report on Wednesday, June 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $52.90.

About Core & Main

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.