Victory Capital Management Inc. Sells 93,020 Shares of Core & Main, Inc. (NYSE:CNM)

Victory Capital Management Inc. reduced its stake in shares of Core & Main, Inc. (NYSE:CNM) by 40.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,625 shares of the company’s stock after selling 93,020 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Core & Main worth $6,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNM. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main during the third quarter worth about $26,000. Avior Wealth Management LLC lifted its holdings in Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main in the third quarter worth about $49,000. UMB Bank n.a. lifted its holdings in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after buying an additional 684 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after buying an additional 830 shares during the period. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Up 3.0 %

NYSE:CNM opened at $47.65 on Friday. The firm has a market capitalization of $9.47 billion, a P/E ratio of 22.37, 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 moving average price is $52.60 and its 200-day moving average price is $48.51. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Analyst Ratings Changes

CNM has been the subject of several research analyst reports. Loop Capital raised their price objective on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Robert W. Baird raised their target price 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. Finally, Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given 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 $57.60.

Insider Buying and Selling

In other news, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the sale, the president now owns 16,010 shares in the company, valued at $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This trade represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,294 shares of company stock valued at $9,383,685. Corporate insiders own 3.49% of the company’s stock.

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.