Artemis Investment Management LLP Acquires 936,863 Shares of Core & Main, Inc. (NYSE:CNM)

Artemis Investment Management LLP lifted its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 109.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,791,935 shares of the company's stock after acquiring an additional 936,863 shares during the period. Core & Main makes up about 1.3% of Artemis Investment Management LLP's holdings, making the stock its 15th largest holding. Artemis Investment Management LLP owned 0.91% of Core & Main worth $86,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CNM. Charles Schwab Investment Management Inc. increased 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 purchasing an additional 122,240 shares during the period. Federated Hermes Inc. grew its position in Core & Main by 4,757.9% during 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 in the last quarter. Vanguard Group Inc. grew its position in Core & Main by 1.2% during 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 in the last quarter. Envestnet Asset Management Inc. grew its position in Core & Main by 12.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 150,423 shares of the company's stock worth $7,658,000 after buying an additional 16,589 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new position in Core & Main in the 4th quarter worth about $1,768,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup raised their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Loop Capital increased their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada lifted their price objective on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Robert W. Baird cut their target price 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. Finally, Wells Fargo & Company increased their target price on Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $59.55.

Core & Main Trading Down 0.2%

Core & Main stock traded down $0.12 during mid-day trading on Monday, hitting $60.24. The company's stock had a trading volume of 1,236,044 shares, compared to its average volume of 2,017,490. The business has a 50 day moving average price of $54.76 and a 200-day moving average price of $52.42. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $60.74. The stock has a market cap of $11.88 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 1.78 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The company's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. As a group, analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $207,977.60. This trade represents a 91.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark G. Whittenburg sold 900 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $60.03, for a total transaction of $54,027.00. Following the completion of the transaction, the general counsel now owns 9,691 shares in the company, valued at $581,750.73. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,666 shares of company stock valued at $8,770,352 in the last ninety days. Company insiders own 3.53% of the company's stock.

Core & Main Company Profile

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.