Core & Main, Inc. (NYSE:CNM) Position Reduced by Anomaly Capital Management LP

Anomaly Capital Management LP trimmed its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,902,422 shares of the company's stock after selling 1,262,195 shares during the quarter. Core & Main makes up about 5.9% of Anomaly Capital Management LP's portfolio, making the stock its 5th biggest position. Anomaly Capital Management LP owned 1.96% of Core & Main worth $198,672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Core & Main by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after buying an additional 122,240 shares during the period. Impax Asset Management Group plc raised its holdings in shares of Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after buying an additional 1,416,907 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Core & Main in the third quarter worth approximately $774,000. Federated Hermes Inc. raised its holdings in shares of Core & Main by 4,757.9% in the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock worth $57,953,000 after buying an additional 1,114,913 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Core & Main by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after buying an additional 221,970 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the transaction, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. This represents a 60.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John R. Schaller sold 21,868 shares of the 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 completion of the transaction, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This trade represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,831 shares of company stock worth $4,504,152 over the last 90 days. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Stock Up 0.3 %

Shares of CNM stock traded up $0.14 during mid-day trading on Friday, hitting $52.55. 1,143,504 shares of the stock traded hands, compared to its average volume of 2,305,099. The stock has a market cap of $10.40 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.61 and a beta of 1.05. The stock's fifty day moving average is $48.87 and its two-hundred day moving average is $49.74. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on CNM shares. Royal Bank of Canada reduced their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Wells Fargo & Company raised their price objective on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Citigroup raised their price objective on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Finally, Robert W. Baird reduced their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. One 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. Based on data from MarketBeat.com, Core & Main has an average rating of "Moderate Buy" and a consensus price target 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.