Renaissance Technologies LLC Grows Stock Position in Core & Main, Inc. (NYSE:CNM)

Renaissance Technologies LLC raised its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 498.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,400 shares of the company's stock after buying an additional 373,500 shares during the quarter. Renaissance Technologies LLC owned about 0.23% of Core & Main worth $22,828,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after purchasing an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Core & Main in the third quarter worth $49,000. UMB Bank n.a. boosted its stake in 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 buying an additional 684 shares during the period. Quadrant Capital Group LLC increased its position in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after acquiring an additional 830 shares during the period. Institutional investors own 94.19% of the company's stock.

Insider Buying and Selling at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the sale, the chief accounting officer now directly owns 4,120 shares in the company, valued at $207,977.60. This represents a 91.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction 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 transaction, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,831 shares of company stock valued at $4,504,152 over the last quarter. 3.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on CNM shares. Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. 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. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Royal Bank of Canada dropped their target price 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 lifted 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

Core & Main Price Performance

NYSE:CNM traded up $0.95 during trading hours on Friday, reaching $49.59. 1,992,222 shares of the company were exchanged, compared to its average volume of 2,296,335. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The firm has a market cap of $9.81 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The stock's 50-day moving average is $49.33 and its 200-day moving average is $49.35.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the company earned $0.34 EPS. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. On average, sell-side analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

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.