Fiduciary Trust Co Invests $283,000 in Core & Main, Inc. (NYSE:CNM)

Fiduciary Trust Co purchased a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,558 shares of the company's stock, valued at approximately $283,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC grew its holdings in shares of Core & Main by 51.3% during 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 in the last quarter. UMB Bank n.a. grew 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 valued at $49,000 after purchasing an additional 684 shares during the period. Quadrant Capital Group LLC grew its holdings in Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after purchasing an additional 278 shares during the period. Blue Trust Inc. grew 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 valued at $65,000 after purchasing an additional 830 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in Core & Main in the fourth quarter valued at approximately $75,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Down 0.5%

Shares of CNM stock traded down $0.29 on Thursday, hitting $52.69. The stock had a trading volume of 2,253,299 shares, compared to its average volume of 2,312,246. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 2.61 and a beta of 1.04. The stock's 50 day moving average is $49.70 and its 200-day moving average is $50.37. 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, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. As a group, research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the sale, the chief accounting officer now owns 4,120 shares in the company, valued at $207,977.60. The trade was a 91.06% 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 link. Also, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction on 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 sale, the executive vice president now owns 16,452 shares of the company's stock, valued at approximately $770,282.64. The trade was a 57.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,045 shares of company stock valued at $3,683,698 over the last ninety days. Corporate insiders own 3.49% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CNM. 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 report 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 report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Finally, Robert W. Baird reduced their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.55.

Core & Main Company 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.