National Bank of Canada FI Sells 773 Shares of Core & Main, Inc. (NYSE:CNM)

National Bank of Canada FI decreased its position in shares of Core & Main, Inc. (NYSE:CNM) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,741 shares of the company’s stock after selling 773 shares during the quarter. National Bank of Canada FI’s holdings in Core & Main were worth $649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Core & Main by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after acquiring an additional 221,970 shares during the last quarter. State Street Corp lifted its stake in Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after buying an additional 489,224 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in Core & Main by 1.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company’s stock valued at $194,005,000 after buying an additional 48,833 shares in the last quarter. Amundi lifted its stake in Core & Main by 5.7% in the fourth quarter. Amundi now owns 3,659,261 shares of the company’s stock valued at $186,722,000 after buying an additional 196,828 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its stake in Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after buying an additional 1,416,907 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Insider Buying and Selling

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the transaction, the president now owns 16,010 shares in the company, valued at approximately $808,505. This represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,257 shares of company stock worth $11,501,977. Insiders own 3.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNM. Royal Bank of Canada cut their price target on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company lifted their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price target on the stock. Citigroup lifted their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, Robert W. Baird lowered their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.55.

Core & Main Price Performance

Shares of CNM opened at $49.05 on Thursday. The company has a market cap of $9.71 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company’s fifty day simple moving average is $50.05 and its 200 day simple moving average is $49.20. 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 issued its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

About Core & Main

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.