XTX Topco Ltd Makes New $1.39 Million Investment in Core & Main, Inc. (NYSE:CNM)

XTX Topco Ltd bought a new position in shares of Core & Main, Inc. (NYSE:CNM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,322 shares of the company’s stock, valued at approximately $1,391,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zimmer Partners LP increased its holdings in Core & Main by 535.6% during the 3rd quarter. Zimmer Partners LP now owns 1,303,000 shares of the company’s stock worth $57,853,000 after purchasing an additional 1,098,000 shares during the period. DF Dent & Co. Inc. grew its position in shares of Core & Main by 26.9% during the 3rd quarter. DF Dent & Co. Inc. now owns 837,693 shares of the company’s stock worth $37,194,000 after buying an additional 177,595 shares in the last quarter. Spruce House Investment Management LLC increased its stake in shares of Core & Main by 400.0% during the third quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock valued at $66,600,000 after buying an additional 1,200,000 shares during the period. State Street Corp raised its holdings in shares of Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after acquiring an additional 489,224 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Core & Main by 39.9% in the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after acquiring an additional 1,073,451 shares during the period. Institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

NYSE CNM opened at $53.86 on Monday. The company has a market cap of $10.83 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 3.59 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.34. The stock’s fifty day moving average price is $45.60 and its 200 day moving average price is $47.94. Core & Main, Inc. has a 1 year low of $35.70 and a 1 year high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data 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. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.65 earnings per share. As a group, equities research analysts forecast that Core & Main, Inc. will post 2.14 earnings per share for the current year.

Insider Transactions at Core & Main

In other news, President Bradford A. Cowles sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the transaction, the president now owns 18,423 shares of the company’s stock, valued at $1,014,554.61. The trade was a 73.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,000 shares of company stock worth $15,926,000 over the last 90 days. 3.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America lowered their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price objective on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.10.

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.