Woodline Partners LP Buys 121,538 Shares of Core & Main, Inc. (NYSE:CNM)

Woodline Partners LP boosted its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 64.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 310,014 shares of the company's stock after buying an additional 121,538 shares during the period. Woodline Partners LP owned approximately 0.16% of Core & Main worth $15,783,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Core & Main by 7.9% during 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 in the last quarter. Impax Asset Management Group plc grew its stake in Core & Main by 70.4% during 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 in the last quarter. Federated Hermes Inc. grew its stake 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 stake 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. Finally, Asset Management One Co. Ltd. grew its stake in Core & Main by 13.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock worth $3,331,000 after buying an additional 7,565 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. Robert W. Baird reduced their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. raised their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday. Royal Bank of Canada reduced their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company raised their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.91.

Core & Main Trading Up 2.0%

NYSE:CNM traded up $1.08 during mid-day trading on Tuesday, hitting $54.14. 758,533 shares of the company's stock were exchanged, compared to its average volume of 1,839,358. The company has a 50 day simple moving average of $50.51 and a 200-day simple moving average of $50.86. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $60.12. The firm has a market capitalization of $10.71 billion, a P/E ratio of 25.42, a PEG ratio of 2.61 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last posted its 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). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm's quarterly revenue was up 17.9% on a year-over-year basis. As a group, research analysts expect 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 firm's stock in a transaction that occurred on Monday, March 10th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO John Weldon Stephens sold 10,214 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The stock was 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 of the company's stock, valued at approximately $218,442.40. The trade was a 71.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,045 shares of company stock worth $3,683,698. 3.53% of the stock is currently owned by insiders.

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.