Border to Coast Pensions Partnership Ltd Has $23.90 Million Position in Core & Main, Inc. (NYSE:CNM)

Border to Coast Pensions Partnership Ltd boosted its stake in Core & Main, Inc. (NYSE:CNM) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 469,842 shares of the company’s stock after purchasing an additional 49,619 shares during the quarter. Border to Coast Pensions Partnership Ltd owned about 0.24% of Core & Main worth $23,904,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Fifth Third Wealth Advisors LLC lifted its position in shares of Core & Main by 4.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $286,000 after purchasing an additional 258 shares in the last quarter. Andina Capital Management LLC raised its holdings in shares of Core & Main by 3.5% in the 3rd quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock valued at $387,000 after purchasing an additional 294 shares during the period. GAMMA Investing LLC increased its position in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after buying an additional 511 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main during the 3rd quarter worth approximately $26,000. Finally, Ritholtz Wealth Management raised its position in shares of Core & Main by 4.3% in the fourth quarter. Ritholtz Wealth Management now owns 14,647 shares of the company’s stock valued at $746,000 after purchasing an additional 601 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Stock Up 1.3 %

Shares of NYSE:CNM opened at $54.83 on Friday. The firm has a market cap of $10.89 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.79 and a beta of 1.02. The business has a fifty day simple moving average of $49.74 and a 200 day simple moving average of $47.92. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the firm posted $0.65 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, President Bradford A. Cowles sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the sale, the president now owns 18,423 shares in the company, valued at $1,014,554.61. This represents a 73.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey D. Giles sold 25,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the sale, the executive vice president now owns 11,615 shares of the company’s stock, valued at approximately $635,456.65. The trade was a 68.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 425,452 shares of company stock worth $22,814,683. Company insiders own 3.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CNM shares. Wells Fargo & Company upped their price target on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Robert W. Baird upped their target price on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial increased their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Citigroup increased their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.30.

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.