Trium Capital LLP Sells 18,337 Shares of Core & Main, Inc. (NYSE:CNM)

Trium Capital LLP decreased its position in Core & Main, Inc. (NYSE:CNM) by 65.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,622 shares of the company’s stock after selling 18,337 shares during the quarter. Trium Capital LLP’s holdings in Core & Main were worth $427,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Core & Main by 35.2% during the first quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock worth $1,038,457,000 after purchasing an additional 4,721,510 shares during the period. Capital International Investors grew its holdings in shares of Core & Main by 470.6% in the 1st quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock worth $291,590,000 after purchasing an additional 4,200,591 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Core & Main by 915.9% during the first quarter. Bessemer Group Inc. now owns 2,586,395 shares of the company’s stock worth $148,073,000 after buying an additional 2,331,802 shares in the last quarter. Swedbank AB acquired a new stake in Core & Main during the 1st quarter valued at $98,876,000. Finally, Artemis Investment Management LLP raised its holdings in shares of Core & Main by 148.0% in the first quarter. Artemis Investment Management LLP now owns 2,650,209 shares of the company’s stock valued at $151,655,000 after buying an additional 1,581,389 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Price Performance

Shares of CNM stock opened at $42.85 on Tuesday. The firm has a market capitalization of $8.63 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. Core & Main, Inc. has a 12-month low of $29.13 and a 12-month high of $62.15. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The firm has a fifty day moving average of $46.22 and a 200-day moving average of $51.64.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.13). Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the company earned $0.66 earnings per share. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Core & Main declared that its board has approved a share repurchase program on Wednesday, June 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director James G. Castellano sold 12,500 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the sale, the director now owns 11,769 shares of the company’s stock, valued at $614,577.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CNM. Robert W. Baird decreased their price objective on shares of Core & Main from $62.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Loop Capital decreased their price objective on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. lowered their target price on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Royal Bank of Canada decreased their price target on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, Bank of America reduced their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $49.55.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.