Marshall Wace LLP Purchases Shares of 53,416 Core & Main, Inc. (NYSE:CNM)

Marshall Wace LLP acquired a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 53,416 shares of the company's stock, valued at approximately $2,719,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Avior Wealth Management LLC lifted its holdings in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after buying an additional 271 shares in the last quarter. UMB Bank n.a. increased its position in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after acquiring an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Core & Main in the third quarter valued at about $49,000. Quadrant Capital Group LLC grew its stake in Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after purchasing an additional 278 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after purchasing an additional 830 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Insider Buying and Selling

In related news, CAO John Weldon Stephens sold 41,963 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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. This trade represents a 91.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. This trade represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,045 shares of company stock valued at $5,045,698 in the last three months. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Stock Performance

Shares of NYSE CNM traded up $0.87 during mid-day trading on Friday, hitting $53.89. The company had a trading volume of 226,443 shares, compared to its average volume of 1,886,888. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm's 50 day simple moving average is $48.97 and its two-hundred day simple moving average is $49.90.

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 the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. As a group, equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CNM. Citigroup raised their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. 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. 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 report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $57.55.

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.