Core & Main, Inc. (NYSE:CNM) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of Core & Main, Inc. (NYSE:CNM) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,219,997 shares of the company’s stock after buying an additional 221,970 shares during the quarter. Vanguard Group Inc. owned about 9.17% of Core & Main worth $927,580,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC boosted 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 valued at $41,000 after acquiring an additional 271 shares during the last quarter. UMB Bank n.a. raised its stake in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Core & Main in the 3rd quarter valued at about $49,000. Blue Trust Inc. boosted its holdings in Core & Main by 187.4% in the 4th 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 last quarter. Finally, R Squared Ltd acquired a new stake in shares of Core & Main during the 4th quarter worth approximately $78,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Trading Down 3.0 %

NYSE CNM opened at $48.46 on Friday. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. The firm has a 50 day simple moving average of $51.87 and a 200-day simple moving average of $48.81. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CNM. Truist Financial upped their price objective on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Loop Capital upped their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird cut their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada lowered their target price on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday. One 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.com, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Insider Buying and Selling

In related news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction that occurred on 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 owns 16,452 shares in the company, valued at $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at $423,908.43. This trade represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,294 shares of company stock valued at $9,383,685 in the last three months. 3.49% of the stock is owned by corporate insiders.

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.