Cookson Peirce & Co. Inc. Acquires Shares of 5,785 Core & Main, Inc. (NYSE:CNM)

Cookson Peirce & Co. Inc. acquired a new stake in Core & Main, Inc. (NYSE:CNM) during the fourth quarter, HoldingsChannel reports. The firm acquired 5,785 shares of the company’s stock, valued at approximately $234,000.

A number of other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Core & Main during the third quarter worth about $28,000. Harbor Investment Advisory LLC purchased a new stake in shares of Core & Main in the third quarter valued at about $33,000. Money Concepts Capital Corp purchased a new stake in shares of Core & Main in the fourth quarter valued at about $39,000. Kepos Capital LP purchased a new stake in shares of Core & Main in the third quarter valued at about $41,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of Core & Main in the second quarter valued at about $43,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $40.98, for a total transaction of $938,762,258.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Core & Main news, CAO John Weldon Stephens sold 15,000 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the completion of the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $247,912.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the company’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $40.98, for a total transaction of $938,762,258.70. The disclosure for this sale can be found here. Insiders have sold a total of 23,363,315 shares of company stock worth $960,746,759 over the last quarter. 3.49% of the stock is owned by company insiders.

Core & Main Stock Performance

Shares of CNM stock opened at $54.74 on Thursday. Core & Main, Inc. has a 12 month low of $24.54 and a 12 month high of $60.83. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The firm has a market capitalization of $11.02 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.71 and a beta of 1.15. The company’s fifty day moving average price is $51.50 and its two-hundred day moving average price is $41.44.

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, meeting analysts’ consensus estimates of $0.34. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 EPS. On average, research analysts anticipate that Core & Main, Inc. will post 2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial reaffirmed a “hold” rating and issued a $38.00 price target on shares of Core & Main in a report on Wednesday, March 20th. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and upped their price target for the company from $63.00 to $64.00 in a report on Friday, April 5th. Loop Capital upped their price target on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Barclays upped their price target on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Royal Bank of Canada lifted their target price 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $50.08.

About Core & Main

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.