E. Ohman J or Asset Management AB Purchases 263,574 Shares of Core & Main, Inc. $CNM

E. Ohman J or Asset Management AB grew its position in Core & Main, Inc. (NYSE:CNM) by 561.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 310,530 shares of the company’s stock after buying an additional 263,574 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Core & Main were worth $15,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. purchased a new position in shares of Core & Main during the fourth quarter valued at $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. Whittier Trust Co. purchased a new stake in Core & Main in the fourth quarter worth about $28,000. Cubist Systematic Strategies LLC lifted its stake in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the period. Finally, Quarry LP bought a new position in Core & Main during the 4th quarter worth about $38,000. Institutional investors own 94.19% of the company’s stock.

Insider Buying and Selling

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the sale, the chief financial officer owned 12,500 shares of the company’s stock, valued at $656,750. This represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of the stock in a transaction on Tuesday, April 7th. The stock was purchased at an average price of $50.70 per share, with a total value of $99,980.40. Following the completion of the purchase, the director owned 6,939 shares of the company’s stock, valued at $351,807.30. This represents a 39.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.51% of the stock is owned by insiders.

Core & Main Price Performance

CNM opened at $48.65 on Friday. The business’s 50-day moving average is $49.48 and its two-hundred day moving average is $52.10. Core & Main, Inc. has a 1 year low of $43.96 and a 1 year high of $67.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The firm has a market capitalization of $9.41 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, June 10th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.19. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. Core & Main had a net margin of 5.87% and a return on equity of 26.17%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. Research analysts anticipate that Core & Main, Inc. will post 3.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CNM. Barclays cut their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Citigroup lowered their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 price objective on shares of Core & Main in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.73.

Core & Main Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.