GAMMA Investing LLC Purchases 195,176 Shares of Core & Main, Inc. (NYSE:CNM)

GAMMA Investing LLC boosted its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 8,795.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,395 shares of the company's stock after acquiring an additional 195,176 shares during the period. GAMMA Investing LLC owned 0.10% of Core & Main worth $9,536,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after purchasing an additional 1,089 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Core & Main in the fourth quarter worth about $201,000. Polar Asset Management Partners Inc. boosted its position in Core & Main by 12.9% during the 4th quarter. Polar Asset Management Partners Inc. now owns 76,900 shares of the company's stock valued at $3,915,000 after acquiring an additional 8,800 shares in the last quarter. PharVision Advisers LLC bought a new stake in Core & Main during the 4th quarter valued at approximately $417,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Core & Main by 14.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 786,744 shares of the company's stock worth $40,053,000 after acquiring an additional 97,005 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Down 0.1%

CNM stock traded down $0.04 during trading on Friday, hitting $59.65. 1,786,994 shares of the stock traded hands, compared to its average volume of 2,273,025. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. 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, Inc. has a 1 year low of $37.22 and a 1 year high of $60.32. The firm's 50 day moving average is $51.88 and its two-hundred day moving average is $51.65.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates 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 company's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. On average, sell-side analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Transactions at Core & Main

In related news, EVP John R. Schaller sold 9,794 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total transaction of $538,670.00. Following the completion of the sale, the executive vice president now directly owns 19,689 shares in the company, valued at approximately $1,082,895. The trade was a 33.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Laura K. Schneider sold 45,695 shares of Core & Main stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the transaction, the insider now owns 12,873 shares in the company, valued at $724,106.25. This represents a 78.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 129,534 shares of company stock worth $6,792,712 over the last quarter. 3.53% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CNM has been the topic of several research reports. 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. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Robert W. Baird dropped their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. increased their price target on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.91.

Core & Main 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.