Envestnet Asset Management Inc. Grows Position in Core & Main, Inc. (NYSE:CNM)

Envestnet Asset Management Inc. raised its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,423 shares of the company's stock after purchasing an additional 16,589 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Core & Main worth $7,658,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CNM. Raymond James Financial Inc. acquired a new stake in Core & Main during the 4th quarter valued at $115,555,000. Norges Bank bought a new stake in Core & Main during the fourth quarter valued at about $99,734,000. Impax Asset Management Group plc increased its stake in shares of Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after purchasing an additional 1,416,907 shares during the period. Schroder Investment Management Group increased its position in Core & Main by 1,259.4% in the 4th quarter. Schroder Investment Management Group now owns 556,891 shares of the company's stock worth $28,351,000 after buying an additional 515,925 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Core & Main by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,839,399 shares of the company's stock valued at $126,069,000 after buying an additional 349,674 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Performance

Shares of CNM traded up $1.14 during mid-day trading on Thursday, reaching $51.57. The company had a trading volume of 156,433 shares, compared to its average volume of 2,291,092. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $10.21 billion, a P/E ratio of 24.20, a PEG ratio of 2.61 and a beta of 1.05. The stock has a 50 day moving average of $48.95 and a two-hundred day moving average of $49.52.

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

Insiders Place Their Bets

In other news, President Bradford A. Cowles sold 25,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at $872,224.80. This trade represents a 60.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,831 shares of company stock worth $4,504,152. 3.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CNM has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price target on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Finally, Robert W. Baird cut their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.55.

About Core & Main

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.