Schonfeld Strategic Advisors LLC Has $18.64 Million Stock Position in Core & Main, Inc. (NYSE:CNM)

Schonfeld Strategic Advisors LLC reduced its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 76.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 366,062 shares of the company's stock after selling 1,205,238 shares during the period. Schonfeld Strategic Advisors LLC owned about 0.18% of Core & Main worth $18,636,000 at the end of the most recent quarter.

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

Core & Main Stock Performance

Shares of CNM stock traded up $0.83 during trading on Friday, reaching $53.85. 1,172,296 shares of the company's stock were exchanged, compared to its average volume of 2,298,299. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The firm's fifty day moving average price is $49.05 and its 200-day moving average price is $49.96. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The stock has a market capitalization of $10.66 billion, a PE ratio of 25.28, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. As a group, sell-side analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares of the company's stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John Weldon Stephens sold 10,214 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $53.02, for a total transaction of $541,546.28. Following the transaction, the chief accounting officer now owns 4,120 shares of the company's stock, valued at approximately $218,442.40. This represents a 71.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,045 shares of company stock worth $5,045,698 in the last quarter. 3.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Robert W. Baird decreased their target price on 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 decreased their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, January 6th. One investment 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's stock. According to MarketBeat, the stock currently 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.