Versor Investments LP Has $1.47 Million Stock Position in Core & Main, Inc. (NYSE:CNM)

Versor Investments LP lifted its stake in shares of Core & Main, Inc. (NYSE:CNM) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,800 shares of the company’s stock after purchasing an additional 2,990 shares during the period. Versor Investments LP’s holdings in Core & Main were worth $1,466,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blackhawk Capital Partners LLC. acquired a new position in Core & Main during the fourth quarter worth $2,315,000. Impax Asset Management Group plc grew its position in shares of Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after acquiring an additional 1,416,907 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Core & Main during the 4th quarter worth about $778,000. Union Bancaire Privee UBP SA bought a new stake in shares of Core & Main in the 4th quarter valued at about $2,702,000. Finally, Allianz Asset Management GmbH lifted its stake in Core & Main by 2.0% in the 4th quarter. Allianz Asset Management GmbH now owns 803,453 shares of the company’s stock valued at $40,904,000 after purchasing an additional 15,404 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Up 2.2 %

CNM opened at $50.76 on Thursday. The stock has a fifty day moving average of $53.34 and a 200-day moving average of $48.75. The company has a market capitalization of $10.08 billion, a P/E ratio of 23.83, a P/E/G ratio of 2.61 and a beta of 1.03. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. 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 (NYSE:CNM) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the prior year, the company posted $0.65 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CNM. Barclays boosted their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Citigroup lifted their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Truist Financial upped their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average target price of $57.60.

Insider Activity

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the completion of the transaction, the general counsel now directly owns 7,667 shares in the company, valued at $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey D. Giles sold 25,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 11,615 shares of the company’s stock, valued at $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 452,426 shares of company stock worth $24,285,825. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Company 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.