Boothbay Fund Management LLC Takes Position in Core & Main, Inc. (NYSE:CNM)

Boothbay Fund Management LLC acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,926 shares of the company's stock, valued at approximately $658,000.

Several other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Core & Main in the 3rd quarter valued at $49,000. Retirement Systems of Alabama increased its position in Core & Main by 10.1% in the 3rd quarter. Retirement Systems of Alabama now owns 254,759 shares of the company's stock valued at $11,311,000 after acquiring an additional 23,277 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Core & Main in the third quarter valued at approximately $774,000. Lord Abbett & CO. LLC boosted its position in Core & Main by 6.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 899,064 shares of the company's stock valued at $39,919,000 after buying an additional 58,365 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Core & Main by 14.0% during the third quarter. JPMorgan Chase & Co. now owns 2,839,399 shares of the company's stock worth $126,069,000 after acquiring an additional 349,674 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Insider Activity

In other news, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the transaction, the president now directly owns 16,010 shares of the company's stock, valued at $872,224.80. This represents a 60.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO John Weldon Stephens sold 10,214 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction of $541,546.28. Following the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at $218,442.40. The trade was a 71.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,045 shares of company stock worth $5,045,698. Corporate insiders own 3.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird lowered their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company boosted their price target on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Citigroup boosted their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Royal Bank of Canada lowered their price objective on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.55.

Core & Main Stock Performance

Shares of Core & Main stock traded down $0.66 during trading hours on Tuesday, hitting $52.69. 93,677 shares of the company's stock traded hands, compared to its average volume of 2,290,745. The company has a fifty day simple moving average of $49.10 and a 200-day simple moving average of $50.06. 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 stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 2.61 and a beta of 1.04. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates 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 firm's revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

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.