BLI Banque de Luxembourg Investments Takes Position in Core & Main, Inc. (NYSE:CNM)

BLI Banque de Luxembourg Investments bought a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 357,000 shares of the company's stock, valued at approximately $18,130,000. BLI Banque de Luxembourg Investments owned about 0.18% of Core & Main 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. raised its position in shares of Core & Main by 1.2% in 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 in the last quarter. FMR LLC increased its holdings in Core & Main by 4.1% in the fourth quarter. FMR LLC now owns 9,055,993 shares of the company's stock worth $461,041,000 after purchasing an additional 358,909 shares in the last quarter. Invesco Ltd. lifted its stake in Core & Main by 0.8% in the fourth quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock valued at $301,722,000 after buying an additional 44,513 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Core & Main by 0.5% during the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock worth $195,250,000 after buying an additional 20,756 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its position in shares of Core & Main by 1.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock worth $194,005,000 after buying an additional 48,833 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Insider Transactions at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction on Monday, March 10th. The stock was 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 owns 16,452 shares of the company's stock, valued at approximately $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 accessible through this link. Also, CAO John Weldon Stephens sold 41,963 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $207,977.60. This trade represents a 91.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,045 shares of company stock worth $5,045,698 in the last 90 days. Insiders own 3.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNM shares. Robert W. Baird cut their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Royal Bank of Canada reduced their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company raised their price objective on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Citigroup upped 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.55.

Core & Main Trading Up 1.6 %

NYSE CNM opened at $53.85 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The business has a fifty day simple moving average of $49.05 and a 200 day simple moving average of $49.98. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The firm has a market capitalization of $10.66 billion, a P/E ratio of 25.28, a PEG ratio of 2.61 and a beta of 1.05.

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

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