Yousif Capital Management LLC Takes $2.35 Million Position in Core & Main, Inc. (NYSE:CNM)

Yousif Capital Management LLC acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,063 shares of the company’s stock, valued at approximately $2,346,000.

A number of other hedge funds have also made changes to their positions in the stock. Brown Advisory Inc. increased its holdings in shares of Core & Main by 6.7% during the 3rd quarter. Brown Advisory Inc. now owns 8,456 shares of the company’s stock valued at $244,000 after acquiring an additional 532 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Core & Main by 81.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company’s stock valued at $50,000 after purchasing an additional 775 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Core & Main during the 3rd quarter valued at approximately $28,000. GAMMA Investing LLC bought a new stake in Core & Main during the 4th quarter valued at approximately $41,000. Finally, Fifth Third Bancorp boosted its stake in Core & Main by 10.8% during the 4th quarter. Fifth Third Bancorp now owns 10,301 shares of the company’s stock valued at $416,000 after purchasing an additional 1,001 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays increased their target price on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Royal Bank of Canada increased their target price on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their price objective on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Truist Financial reiterated a “hold” rating and issued a $38.00 price objective on shares of Core & Main in a research report on Wednesday, March 20th. Finally, Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $50.08.

Insider Activity at Core & Main

In related news, CEO Stephen O. Leclair sold 150,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Stephen O. Leclair sold 150,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jeffrey D. Giles sold 40,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.14, for a total value of $1,765,600.00. Following the sale, the vice president now directly owns 8,217 shares of the company’s stock, valued at $362,698.38. The disclosure for this sale can be found here. Insiders sold 520,500 shares of company stock valued at $25,511,067 in the last three months. Corporate insiders own 3.49% of the company’s stock.

Core & Main Trading Down 1.6 %

Shares of CNM opened at $56.48 on Wednesday. Core & Main, Inc. has a 1 year low of $25.94 and a 1 year high of $60.83. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The stock has a 50 day simple moving average of $53.64 and a 200-day simple moving average of $43.15. The stock has a market cap of $11.37 billion, a PE ratio of 26.27, a PEG ratio of 1.77 and a beta of 1.15.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the prior year, the firm posted $0.31 EPS. Core & Main’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts predict that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Core & Main Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.