JPMorgan Chase & Co. Boosts Stake in Core & Main, Inc. (NYSE:CNM)

JPMorgan Chase & Co. boosted its holdings in Core & Main, Inc. (NYSE:CNM) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,847,032 shares of the company’s stock after acquiring an additional 7,633 shares during the quarter. JPMorgan Chase & Co. owned about 1.43% of Core & Main worth $144,942,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Core & Main by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock valued at $84,855,000 after purchasing an additional 122,240 shares in the last quarter. Impax Asset Management Group plc increased its holdings in 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 buying an additional 1,416,907 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Core & Main during the 3rd quarter worth approximately $774,000. Asset Management One Co. Ltd. grew its holdings in shares of Core & Main by 13.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock worth $3,331,000 after acquiring an additional 7,565 shares during the period. Finally, Truist Financial Corp increased its stake in Core & Main by 3.2% in the 4th quarter. Truist Financial Corp now owns 581,845 shares of the company’s stock valued at $29,622,000 after purchasing an additional 17,899 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

CNM has been the topic of a number of research analyst reports. Robert W. Baird decreased their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company boosted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Loop Capital raised their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays upped 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, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday. They set a “buy” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $57.55.

Core & Main Price Performance

Shares of NYSE:CNM opened at $49.36 on Wednesday. The company has a market cap of $9.81 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.61 and a beta of 1.05. The business has a fifty day simple moving average of $51.58 and a 200-day simple moving average of $49.07. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 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 analyst estimates of $1.67 billion. During the same period in the prior year, the company earned $0.34 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of the company’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 in the company, valued at $808,505. This represents a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now directly owns 16,452 shares in the company, valued at $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock valued at $9,383,685 over the last quarter. Company insiders own 3.49% of the company’s stock.

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.