Lighthouse Investment Partners LLC Makes New $270,000 Investment in Core & Main, Inc. (NYSE:CNM)

Lighthouse Investment Partners LLC bought a new position in Core & Main, Inc. (NYSE:CNM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,298 shares of the company's stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Ensign Peak Advisors Inc lifted its stake in Core & Main by 12.7% in the 4th quarter. Ensign Peak Advisors Inc now owns 64,111 shares of the company's stock worth $3,264,000 after acquiring an additional 7,230 shares in the last quarter. Expect Equity LLC purchased a new stake in shares of Core & Main during the fourth quarter worth $2,724,000. Fiduciary Trust Co acquired a new stake in Core & Main during the fourth quarter valued at $283,000. Deutsche Bank AG grew its stake in Core & Main by 2.0% in the fourth quarter. Deutsche Bank AG now owns 111,944 shares of the company's stock valued at $5,699,000 after purchasing an additional 2,207 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in Core & Main by 303.2% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 304,277 shares of the company's stock worth $15,491,000 after purchasing an additional 228,812 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now directly owns 16,452 shares of the company's stock, valued at approximately $770,282.64. The trade was a 57.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at $207,977.60. The trade was a 91.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,045 shares of company stock worth $3,683,698 in the last 90 days. Corporate insiders own 3.49% of the company's stock.

Core & Main Price Performance

Core & Main stock traded down $0.73 during mid-day trading on Wednesday, hitting $52.80. 301,305 shares of the company were exchanged, compared to its average volume of 2,304,282. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $61.27. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The business has a fifty day moving average of $50.11 and a 200 day moving average of $50.60. The company has a market capitalization of $10.45 billion, a PE ratio of 24.77, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share 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 firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the company posted $0.34 earnings per share. Core & Main's quarterly revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Robert W. Baird cut their price target 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. Wells Fargo & Company boosted their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Royal Bank of Canada decreased their target price 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Core & Main currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.55.

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.