Lecap Asset Management Ltd. Makes New $722,000 Investment in Core & Main, Inc. (NYSE:CNM)

Lecap Asset Management Ltd. purchased a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,860 shares of the company's stock, valued at approximately $722,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in Core & Main during the fourth quarter worth $108,023,000. Morgan Stanley grew its stake in Core & Main by 423.6% in the 4th quarter. Morgan Stanley now owns 3,526,994 shares of the company's stock valued at $68,106,000 after purchasing an additional 2,853,438 shares during the period. FMR LLC grew its stake in Core & Main by 51.1% in the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company's stock valued at $226,926,000 after purchasing an additional 2,660,097 shares during the period. Pacer Advisors Inc. bought a new position in Core & Main in the 4th quarter valued at $91,771,000. Finally, Robeco Schweiz AG bought a new position in shares of Core & Main during the 1st quarter worth $51,950,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Trading Down 1.5 %

Shares of CNM traded down $0.84 during mid-day trading on Friday, hitting $56.34. 1,176,505 shares of the company's stock traded hands, compared to its average volume of 2,864,134. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. Core & Main, Inc. has a 1 year low of $24.40 and a 1 year high of $60.83. The firm has a market capitalization of $11.35 billion, a P/E ratio of 26.20, a PEG ratio of 1.74 and a beta of 1.15. The business's 50-day moving average price is $50.70 and its 200-day moving average price is $40.98.

Core & Main (NYSE:CNM - Get Free Report) last posted its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. The business's revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the company's stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Core & Main news, CAO John Weldon Stephens sold 15,000 shares of the business's stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $57.91, for a total value of $868,650.00. Following the sale, the chief accounting officer now directly owns 4,281 shares of the company's stock, valued at $247,912.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the business's stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The disclosure for this sale can be found here. Insiders have sold a total of 23,413,315 shares of company stock valued at $962,796,259 over the last ninety days. Company insiders own 3.49% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial reiterated a "hold" rating and set a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. The Goldman Sachs Group lifted their price target on Core & Main from $42.00 to $61.00 and gave the company a "neutral" rating in a research report on Tuesday, March 26th. Citigroup downgraded Core & Main from a "buy" rating to a "neutral" rating and lifted their price target for the company from $63.00 to $64.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. boosted their target price on Core & Main from $38.00 to $54.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Finally, Barclays boosted their target price on Core & Main from $49.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and a consensus target price of $50.08.

Core & Main Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.