Impax Asset Management Group plc Has $174.66 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Impax Asset Management Group plc grew its stake in Core & Main, Inc. (NYSE:CNM) by 70.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,430,787 shares of the company’s stock after purchasing an additional 1,416,907 shares during the period. Impax Asset Management Group plc’s holdings in Core & Main were worth $174,661,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in Core & Main in the 3rd quarter valued at approximately $2,240,000. Louisiana State Employees Retirement System raised its stake in shares of Core & Main by 10.5% in the third quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the company’s stock valued at $2,375,000 after purchasing an additional 5,100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Core & Main in the third quarter worth $93,000. DekaBank Deutsche Girozentrale boosted its stake in Core & Main by 21.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 27,276 shares of the company’s stock worth $1,211,000 after buying an additional 4,782 shares in the last quarter. Finally, Clear Harbor Asset Management LLC boosted its stake in Core & Main by 0.9% during the third quarter. Clear Harbor Asset Management LLC now owns 233,940 shares of the company’s stock worth $10,387,000 after buying an additional 2,170 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CNM. Wells Fargo & Company raised their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Robert W. Baird raised their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Barclays upped their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial increased their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. One equities research 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Insider Buying and Selling at Core & Main

In other news, CEO Stephen O. Leclair sold 200,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the sale, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at $5,068,113.12. This represents a 68.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Margaret Newman sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the transaction, the director now owns 11,769 shares of the company’s stock, valued at $650,237.25. This trade represents a 56.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 452,426 shares of company stock worth $24,285,825. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Trading Down 2.8 %

CNM stock opened at $50.97 on Monday. The business has a fifty day moving average price of $53.44 and a 200 day moving average price of $48.72. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 2.61 and a beta of 1.03.

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

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.