Union Bancaire Privee UBP SA Purchases New Holdings in Core & Main, Inc. (NYSE:CNM)

Union Bancaire Privee UBP SA purchased a new stake in Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 52,956 shares of the company’s stock, valued at approximately $2,702,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNM. Assenagon Asset Management S.A. purchased a new position in Core & Main in the 3rd quarter valued at about $2,240,000. Louisiana State Employees Retirement System raised its holdings in Core & Main by 10.5% in the 3rd quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the company’s stock valued at $2,375,000 after acquiring an additional 5,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Core & Main in the 3rd quarter valued at about $93,000. DekaBank Deutsche Girozentrale raised its holdings in Core & Main by 21.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 27,276 shares of the company’s stock valued at $1,211,000 after acquiring an additional 4,782 shares during the last quarter. Finally, Clear Harbor Asset Management LLC raised its holdings in Core & Main by 0.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 233,940 shares of the company’s stock valued at $10,387,000 after acquiring an additional 2,170 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Down 2.8 %

Shares of NYSE CNM opened at $50.97 on Monday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The company has a 50 day simple moving average of $53.44 and a 200-day simple moving average of $48.72. The company has a market capitalization of $10.13 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.61 and a beta of 1.03.

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

Insider Activity at Core & Main

In related news, President Bradford A. Cowles sold 25,000 shares of Core & Main stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the sale, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. This trade represents a 60.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now 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. In the last quarter, insiders sold 452,426 shares of company stock worth $24,285,825. Insiders own 3.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CNM shares. Robert W. Baird increased their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup increased their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company increased 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. Truist Financial increased their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Barclays raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.60.

Core & Main 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.