Asset Management One Co. Ltd. Raises Holdings in Core & Main, Inc. (NYSE:CNM)

Asset Management One Co. Ltd. grew its position in shares of Core & Main, Inc. (NYSE:CNM) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,284 shares of the company’s stock after purchasing an additional 7,565 shares during the period. Asset Management One Co. Ltd.’s holdings in Core & Main were worth $3,331,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main during the third quarter valued at about $26,000. Avior Wealth Management LLC grew its position in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares in the last quarter. UMB Bank n.a. grew its position 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 purchasing an additional 684 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main during the third quarter valued at about $49,000. Finally, Blue Trust Inc. grew its position 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 purchasing an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

CNM has been the subject of several recent research reports. Truist Financial lifted their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Citigroup lifted their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. The Goldman Sachs Group lifted their price target on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Robert W. Baird lifted their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.60.

Insider Activity

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the transaction, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at $5,068,113.12. This trade represents a 68.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 452,426 shares of company stock valued at $24,285,825. Corporate insiders own 3.49% of the company’s stock.

Core & Main Stock Down 1.8 %

Shares of NYSE:CNM opened at $53.60 on Thursday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The business has a 50 day simple moving average of $53.46 and a two-hundred day simple moving average of $48.65. The firm has a market capitalization of $10.65 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.70 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

About Core & Main

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.