BNP Paribas Financial Markets Acquires New Shares in Core & Main, Inc. (NYSE:CNM)

BNP Paribas Financial Markets acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 52,434 shares of the company's stock, valued at approximately $2,669,000.

Other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its stake 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 during the period. UMB Bank n.a. lifted its holdings in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock valued at $49,000 after buying an additional 684 shares in the last quarter. Quadrant Capital Group LLC boosted its position in 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 buying an additional 278 shares during the period. Blue Trust Inc. boosted its position in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after buying an additional 830 shares during the period. Finally, Ancora Advisors LLC bought a new position in Core & Main in the 4th quarter worth about $75,000. Institutional investors own 94.19% of the company's stock.

Core & Main Trading Down 1.8%

Shares of CNM traded down $0.98 during trading on Wednesday, reaching $52.55. 231,475 shares of the company traded hands, compared to its average volume of 2,304,075. The stock has a 50-day simple moving average of $50.11 and a 200-day simple moving average of $50.60. The stock has a market cap of $10.40 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $61.27. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. On average, analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. The trade was a 57.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $53.02, for a total value of $541,546.28. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 74,045 shares of company stock worth $3,683,698 in the last 90 days. Corporate insiders own 3.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CNM shares. 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 boosted their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price on the stock. Finally, 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 report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and a consensus 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.