Vanguard Personalized Indexing Management LLC Takes Position in Core & Main, Inc. (NYSE:CNM)

Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,913 shares of the company’s stock, valued at approximately $481,000.

Several other hedge funds have also added to or reduced their stakes in CNM. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Core & Main in the 3rd quarter valued at about $28,000. Kepos Capital LP bought a new position in Core & Main in the third quarter valued at approximately $41,000. GAMMA Investing LLC acquired a new stake in Core & Main during the 4th quarter worth $41,000. Principal Securities Inc. bought a new stake in shares of Core & Main during the 4th quarter valued at $43,000. Finally, Headlands Technologies LLC acquired a new position in shares of Core & Main in the 4th quarter valued at $95,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

CNM opened at $60.15 on Friday. The firm has a market capitalization of $12.11 billion, a PE ratio of 27.98, a PEG ratio of 1.85 and a beta of 1.14. Core & Main, Inc. has a 52-week low of $26.08 and a 52-week high of $62.15. The business’s 50-day simple moving average is $57.67 and its 200 day simple moving average is $46.62. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29.

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

Insider Buying and Selling at Core & Main

In other Core & Main news, VP John Weldon Stephens sold 43,900 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.02, for a total value of $2,195,878.00. Following the transaction, the vice president now directly owns 3,468 shares in the company, valued at $173,469.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $57.91, for a total value of $2,895,500.00. Following the completion of the sale, the general counsel now directly owns 12,933 shares in the company, valued at $748,950.03. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John Weldon Stephens sold 43,900 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $50.02, for a total value of $2,195,878.00. Following the transaction, the vice president now owns 3,468 shares in the company, valued at approximately $173,469.36. The disclosure for this sale can be found here. Insiders sold 275,000 shares of company stock valued at $15,442,117 in the last quarter. 3.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CNM has been the topic of several analyst reports. Truist Financial reissued a “hold” rating and issued a $38.00 target price on shares of Core & Main in a research note on Wednesday, March 20th. JPMorgan Chase & Co. upped their price target on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Royal Bank of Canada lifted their price objective on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Barclays upped their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, Loop Capital lifted their price target on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.08.

Core & Main Company 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.