Bryce Point Capital LLC Makes New $1.77 Million Investment in Core & Main, Inc. (NYSE:CNM)

Bryce Point Capital LLC purchased a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 34,736 shares of the company’s stock, valued at approximately $1,768,000. Core & Main comprises approximately 0.5% of Bryce Point Capital LLC’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Core & Main during the 4th quarter worth $115,555,000. PointState Capital LP acquired a new position in Core & Main during the 3rd quarter worth $100,013,000. Norges Bank bought a new stake in Core & Main during the fourth quarter valued at about $99,734,000. Impax Asset Management Group plc grew its position in shares of Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after purchasing an additional 1,416,907 shares during the last quarter. Finally, Spruce House Investment Management LLC increased its stake in shares of Core & Main by 400.0% in the third quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock worth $66,600,000 after purchasing an additional 1,200,000 shares during the period. Institutional investors own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

CNM has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. The Goldman Sachs Group raised their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday. They set a “buy” rating and a $60.00 target price for the company. Barclays raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” 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 research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.55.

Core & Main Trading Up 2.2 %

Shares of CNM opened at $49.36 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock has a market cap of $9.81 billion, a PE ratio of 23.17, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The stock has a 50 day simple moving average of $51.58 and a 200-day simple moving average of $49.07.

Core & Main (NYSE:CNM) last issued 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). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the business posted $0.34 earnings per share. The firm’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. The trade was a 20.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the sale, the executive vice president now owns 16,452 shares in the company, valued at $770,282.64. The trade was a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock worth $9,383,685 over the last ninety days. Corporate insiders own 3.49% of the company’s stock.

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.