15,814 Shares in Core & Main, Inc. (NYSE:CNM) Bought by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd acquired a new stake in Core & Main, Inc. (NYSE:CNM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,814 shares of the company’s stock, valued at approximately $805,000.

Several other hedge funds also recently made changes to their positions in CNM. Quadrant Capital Group LLC boosted its position in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after purchasing an additional 278 shares during the period. Envestnet Asset Management Inc. lifted its stake in Core & Main by 12.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 150,423 shares of the company’s stock valued at $7,658,000 after buying an additional 16,589 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Core & Main in the fourth quarter valued at approximately $222,000. CDAM UK Ltd grew its position in shares of Core & Main by 12.8% during the fourth quarter. CDAM UK Ltd now owns 1,439,668 shares of the company’s stock worth $73,293,000 after acquiring an additional 162,872 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Core & Main by 8.0% in the 4th quarter. Wells Fargo & Company MN now owns 118,144 shares of the company’s stock valued at $6,015,000 after acquiring an additional 8,783 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of CNM stock opened at $46.12 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The stock has a 50 day simple moving average of $51.06 and a 200-day simple moving average of $49.15.

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

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of recent research reports. Robert W. Baird decreased their price target on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a “buy” rating and a $60.00 target price for the company. Royal Bank of Canada dropped their price target on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company upped their price objective on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Citigroup lifted their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.55.

Insider Activity at Core & Main

In other news, EVP John R. Schaller sold 60,452 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the sale, the executive vice president now owns 17,898 shares of the company’s stock, valued at $905,101.86. The trade was a 77.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,257 shares of company stock worth $11,501,977 over the last 90 days. Company insiders own 3.49% of the company’s stock.

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.