Cookson Peirce & Co. Inc. Buys New Holdings in Core & Main, Inc. (NYSE:CNM)

Cookson Peirce & Co. Inc. bought a new stake in shares of Core & Main, Inc. (NYSE:CNM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,785 shares of the company’s stock, valued at approximately $234,000.

Several other institutional investors also recently bought and sold shares of CNM. Renaissance Capital LLC lifted its stake in shares of Core & Main by 59.0% in the 4th quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock valued at $3,458,000 after purchasing an additional 31,740 shares during the period. State of Michigan Retirement System bought a new position in Core & Main during the 4th quarter valued at approximately $1,325,000. Exchange Traded Concepts LLC increased its position in Core & Main by 328.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock valued at $3,186,000 after buying an additional 60,435 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Core & Main by 4.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock valued at $70,107,000 after buying an additional 73,790 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Core & Main by 1,608.3% in the 3rd quarter. Barclays PLC now owns 541,940 shares of the company’s stock worth $15,634,000 after purchasing an additional 510,216 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Price Performance

Shares of Core & Main stock opened at $54.74 on Thursday. Core & Main, Inc. has a 52 week low of $24.54 and a 52 week high of $60.83. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The stock’s 50-day simple moving average is $51.50 and its 200-day simple moving average is $41.44. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.71 and a beta of 1.15.

Core & Main (NYSE:CNM) last issued its 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 for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Core & Main, Inc. will post 2.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on CNM shares. Truist Financial reissued a “hold” rating and issued a $38.00 target price on shares of Core & Main in a report on Wednesday, March 20th. The Goldman Sachs Group lifted their target price on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $64.00 in a report on Friday, April 5th. Loop Capital lifted their price objective on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Barclays lifted their price objective on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.08.

Insiders Place Their Bets

In other Core & Main news, VP John Weldon Stephens sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00. Following the sale, the vice president now directly owns 3,468 shares of the company’s stock, valued at $173,469.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP John Weldon Stephens sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00. Following the transaction, the vice president now owns 3,468 shares of the company’s stock, valued at $173,469.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen O. Leclair sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.14, for a total value of $6,621,000.00. Following the transaction, the chief executive officer now directly owns 73,692 shares in the company, valued at approximately $3,252,764.88. The disclosure for this sale can be found here. Insiders have sold 23,363,315 shares of company stock valued at $960,746,759 over the last ninety days. 3.49% of the stock is owned by insiders.

Core & Main Company 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.