Sagefield Capital LP Takes $4.73 Million Position in Core & Main, Inc. (NYSE:CNM)

Sagefield Capital LP acquired a new position in Core & Main, Inc. (NYSE:CNM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 92,951 shares of the company's stock, valued at approximately $4,732,000.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Core & Main during the 4th quarter valued at approximately $115,555,000. Norges Bank acquired a new stake in Core & Main during the fourth quarter worth about $99,734,000. Impax Asset Management Group plc increased its position in shares of Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $174,661,000 after acquiring an additional 1,416,907 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Core & Main by 4,757.9% in the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock valued at $57,953,000 after purchasing an additional 1,114,913 shares during the period. Finally, First Trust Advisors LP lifted its stake in Core & Main by 38.4% in the fourth quarter. First Trust Advisors LP now owns 3,328,182 shares of the company's stock worth $169,438,000 after acquiring an additional 923,287 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In related news, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $53.02, for a total value of $541,546.28. Following the sale, the chief accounting officer now owns 4,120 shares in the company, valued at approximately $218,442.40. This trade represents a 71.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated 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 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 a total of 74,045 shares of company stock valued at $3,683,698 over the last ninety days. 3.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNM. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. 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. Royal Bank of Canada lowered their price objective on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company raised their price target 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and an average price target of $57.55.

Core & Main Stock Performance

NYSE:CNM opened at $54.14 on Friday. The stock has a 50 day simple moving average of $49.85 and a 200 day simple moving average of $50.43. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $61.33. 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 stock has a market cap of $10.71 billion, a P/E ratio of 25.42, a PEG 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 analysts' consensus estimates 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 quarter in the prior year, the firm earned $0.34 EPS. The company's revenue was up 17.9% on a year-over-year basis. Research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current 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.

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