Pictet Asset Management Holding SA Acquires 13,695 Shares of Core & Main, Inc. (NYSE:CNM)

Pictet Asset Management Holding SA grew its holdings in Core & Main, Inc. (NYSE:CNM) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,006,669 shares of the company’s stock after acquiring an additional 13,695 shares during the period. Pictet Asset Management Holding SA owned 4.03% of Core & Main worth $407,620,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Avior Wealth Management LLC boosted its holdings in Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after buying an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Core & Main during the 3rd quarter worth about $49,000. Blue Trust Inc. increased its holdings in shares of Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after acquiring an additional 830 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Core & Main in the 4th quarter valued at approximately $78,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Activity

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at approximately $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John R. Schaller sold 60,452 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now directly owns 17,898 shares of the company’s stock, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on CNM shares. Robert W. Baird lowered their price target on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday. Citigroup raised their target price 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. Loop Capital lifted their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada lowered their price target on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Truist Financial boosted their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Core & Main Trading Up 0.9 %

Shares of CNM opened at $49.96 on Friday. The stock’s 50-day moving average price is $52.00 and its 200 day moving average price is $48.74. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

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

Core & Main 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.