Pembroke Management LTD Boosts Stake in Core & Main, Inc. (NYSE:CNM)

Pembroke Management LTD increased its holdings in Core & Main, Inc. (NYSE:CNM) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 609,631 shares of the company’s stock after purchasing an additional 35,687 shares during the period. Core & Main makes up 4.0% of Pembroke Management LTD’s portfolio, making the stock its 4th biggest position. Pembroke Management LTD owned about 0.31% of Core & Main worth $31,036,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in Core & Main during the 3rd quarter worth about $26,000. Avior Wealth Management LLC grew its position in shares of Core & Main by 51.3% during the 4th 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. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main in the 3rd quarter valued at $49,000. UMB Bank n.a. grew its position in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after acquiring an additional 684 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares during the period. Institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction on Wednesday, January 15th. The shares were 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. This represents a 20.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 25,000 shares of the 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 sale, the president now owns 16,010 shares in the company, valued at $872,224.80. The trade was a 60.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 452,426 shares of company stock worth $24,285,825 in the last quarter. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Price Performance

NYSE:CNM opened at $54.22 on Tuesday. The company’s 50-day moving average is $53.41 and its two-hundred day moving average is $48.58. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The firm has a market cap of $10.77 billion, a price-to-earnings ratio of 25.46, a price-to-earnings-growth ratio of 2.75 and a beta of 1.03. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the company posted $0.65 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. Research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Analyst Ratings Changes

CNM has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 price objective (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Loop Capital lifted their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Truist Financial raised their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Citigroup upped their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Barclays increased their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

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.