Polar Capital Holdings Plc Increases Position in Core & Main, Inc. (NYSE:CNM)

Polar Capital Holdings Plc raised its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 23.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 228,178 shares of the company's stock after buying an additional 43,982 shares during the period. Polar Capital Holdings Plc owned about 0.11% of Core & Main worth $11,617,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Avior Wealth Management LLC increased its position in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after buying an additional 271 shares in the last quarter. UMB Bank n.a. increased its holdings in Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after acquiring an additional 684 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after acquiring an additional 278 shares in the last quarter. Blue Trust Inc. raised its position in Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after acquiring an additional 830 shares during the period. Finally, Ancora Advisors LLC purchased a new position in Core & Main during the fourth quarter valued at $75,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CNM. 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. Royal Bank of Canada reduced their price objective 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. Robert W. Baird cut their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft initiated 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 for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.55.

Insider Activity

In other news, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction of $541,546.28. Following the completion of the sale, the chief accounting officer now owns 4,120 shares in the company, valued at approximately $218,442.40. This represents a 71.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction that occurred on 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 owns 16,452 shares in the company, 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. In the last three months, insiders sold 74,045 shares of company stock valued at $3,683,698. Insiders own 3.49% of the company's stock.

Core & Main Stock Down 1.7%

NYSE:CNM traded down $0.94 during mid-day trading on Monday, hitting $53.20. The stock had a trading volume of 998,849 shares, compared to its average volume of 2,311,057. 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 twelve month low of $37.22 and a twelve month high of $61.33. The company has a market capitalization of $10.53 billion, a PE ratio of 24.98, a PEG ratio of 2.61 and a beta of 1.04. The stock has a 50-day simple moving average of $49.85 and a two-hundred day simple moving average of $50.51.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $0.34 earnings per share. The business's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

About Core & Main

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.