Core & Main, Inc. (NYSE:CNM) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. lifted its stake in shares of Core & Main, Inc. (NYSE:CNM) by 187.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,273 shares of the company’s stock after buying an additional 830 shares during the quarter. Blue Trust Inc.’s holdings in Core & Main were worth $65,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNM. Assenagon Asset Management S.A. purchased a new stake in shares of Core & Main during the third quarter valued at approximately $2,240,000. Louisiana State Employees Retirement System grew its holdings in Core & Main by 10.5% during the 3rd 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. purchased a new stake in Core & Main during the 3rd quarter worth $93,000. DekaBank Deutsche Girozentrale lifted its holdings in Core & Main by 21.3% in the 3rd 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, State of Alaska Department of Revenue boosted its position in Core & Main by 21.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,405 shares of the company’s stock valued at $994,000 after buying an additional 3,900 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Bradford A. Cowles sold 50,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the sale, the president now owns 18,423 shares in the company, valued at approximately $1,014,554.61. This represents a 73.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 452,426 shares of company stock worth $24,285,825 in the last 90 days. 3.49% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNM. Citigroup lifted their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Truist Financial lifted their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Loop Capital raised their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays upped their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $57.60.

Core & Main Trading Down 2.1 %

Core & Main stock opened at $49.90 on Tuesday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The firm’s 50-day moving average is $53.38 and its 200-day moving average is $48.73. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The company has a market cap of $9.91 billion, a P/E ratio of 23.42, a PEG ratio of 2.61 and a beta of 1.03.

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

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.