ArrowMark Colorado Holdings LLC Acquires 137,716 Shares of Core & Main, Inc. (NYSE:CNM)

ArrowMark Colorado Holdings LLC lifted its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 17.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 924,632 shares of the company's stock after purchasing an additional 137,716 shares during the quarter. ArrowMark Colorado Holdings LLC owned about 0.47% of Core & Main worth $47,073,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNM. Northern Trust Corp raised its position in shares of Core & Main by 15.3% in the 4th quarter. Northern Trust Corp now owns 1,758,965 shares of the company's stock worth $89,549,000 after purchasing an additional 233,979 shares during the last quarter. Quarry LP purchased a new position in Core & Main in the fourth quarter worth about $295,000. VeriStar Capital Management LP bought a new position in shares of Core & Main in the fourth quarter worth approximately $6,177,000. Boothbay Fund Management LLC purchased a new stake in shares of Core & Main during the fourth quarter valued at approximately $658,000. Finally, Lord Abbett & CO. LLC increased its position in shares of Core & Main by 20.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,078,455 shares of the company's stock valued at $54,904,000 after acquiring an additional 179,391 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insider Transactions at Core & Main

In other news, CAO John Weldon Stephens sold 10,214 shares of Core & Main stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the transaction, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $218,442.40. The trade was a 71.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Bradford A. Cowles sold 25,000 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,045 shares of company stock valued at $5,045,698. Company insiders own 3.49% of the company's stock.

Core & Main Stock Up 1.6 %

Shares of NYSE CNM opened at $53.85 on Friday. 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 firm has a 50-day simple moving average of $49.05 and a two-hundred day simple moving average of $49.96. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a market cap of $10.66 billion, a P/E ratio of 25.28, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business's revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. Research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on CNM shares. Royal Bank of Canada cut their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. 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 research report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Robert W. Baird reduced their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and an average target price of $57.55.

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.

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