Yaupon Capital Management LP Invests $18.73 Million in Core & Main, Inc. (NYSE:CNM)

Yaupon Capital Management LP purchased a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 367,798 shares of the company's stock, valued at approximately $18,725,000. Yaupon Capital Management LP owned 0.19% of Core & Main as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CNM. Avior Wealth Management LLC increased its stake in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after purchasing an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the 3rd quarter worth approximately $49,000. UMB Bank n.a. raised its holdings in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock valued at $49,000 after acquiring an additional 684 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Core & Main by 30.1% in 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 in the last quarter. Finally, Blue Trust Inc. boosted 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 worth $65,000 after acquiring an additional 830 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CNM shares. Citigroup increased their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Robert W. Baird dropped their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. One equities research 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 data from MarketBeat, Core & Main has an average rating of "Moderate Buy" and an average price target of $57.55.

Insider Transactions at Core & Main

In related news, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the transaction, the president now owns 16,010 shares of the company's stock, valued at approximately $872,224.80. This represents a 60.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the transaction, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $207,977.60. This trade represents a 91.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,831 shares of company stock worth $4,504,152. 3.49% of the stock is currently owned by insiders.

Core & Main Trading Up 0.3 %

Shares of Core & Main stock traded up $0.14 during trading hours on Friday, hitting $52.55. The company's stock had a trading volume of 1,143,504 shares, compared to its average volume of 2,305,099. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The firm has a fifty day moving average of $48.87 and a 200-day moving average of $49.74.

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 (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm's quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 earnings per share. Research analysts forecast that Core & Main, Inc. will post 2.16 EPS 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.