136,365 Shares in Core & Main, Inc. (NYSE:CNM) Purchased by Driehaus Capital Management LLC

Driehaus Capital Management LLC acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 136,365 shares of the company’s stock, valued at approximately $6,942,000. Driehaus Capital Management LLC owned 0.07% of Core & Main at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC raised its holdings in 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 during the period. Wilmington Savings Fund Society FSB bought a new position in Core & Main during the third quarter valued at $49,000. UMB Bank n.a. raised its stake 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 valued at $49,000 after acquiring an additional 684 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after acquiring an additional 278 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake 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 worth $65,000 after purchasing an additional 830 shares during the period. 94.19% of the stock is owned by institutional investors.

Core & Main Price Performance

CNM opened at $51.66 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. The business’s fifty day simple moving average is $49.24 and its 200-day simple moving average is $50.15. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.61 and a beta of 1.04. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

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

Insider Activity at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now owns 4,120 shares of the company’s stock, valued at approximately $207,977.60. This trade represents a 91.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 25,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at approximately $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,045 shares of company stock valued at $5,045,698 over the last ninety days. 3.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

CNM has been the subject of several analyst reports. Robert W. Baird decreased their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company raised their price target on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective for the company. Finally, Royal Bank of Canada reduced their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. One investment 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. Based on data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and an average price target of $57.55.

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.