KLP Kapitalforvaltning AS Makes New $1.99 Million Investment in Core & Main, Inc. (NYSE:CNM)

KLP Kapitalforvaltning AS acquired a new position in Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 39,000 shares of the company’s stock, valued at approximately $1,985,000.

A number of other large investors have also recently made changes to their positions in the stock. US Bancorp DE lifted its holdings in Core & Main by 12.3% during the fourth quarter. US Bancorp DE now owns 1,795 shares of the company’s stock valued at $91,000 after purchasing an additional 197 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of Core & Main by 4.8% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after purchasing an additional 258 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after buying an additional 271 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Core & Main by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock worth $299,000 after buying an additional 287 shares during the period. Finally, Arizona State Retirement System increased its stake in Core & Main by 0.6% in the 4th quarter. Arizona State Retirement System now owns 55,910 shares of the company’s stock worth $2,846,000 after buying an additional 360 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CNM shares. Citigroup boosted their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company boosted their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. The Goldman Sachs Group upped their target price on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Barclays lifted their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Truist Financial increased 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $57.30.

Insider Buying and Selling

In related news, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the transaction, the executive vice president now directly owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the sale, the president now directly owns 16,010 shares of the company’s stock, valued at approximately $808,505. The trade was a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock worth $9,383,685 over the last three months. 3.49% of the stock is owned by insiders.

Core & Main Stock Up 0.9 %

Shares of NYSE:CNM opened at $49.96 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.28 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. The company has a 50-day moving average price of $52.00 and a 200 day moving average price of $48.74. The company has a market cap of $9.92 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. As a group, equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.