Core & Main, Inc. (NYSE:CNM) Shares Sold by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina decreased its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 84,361 shares of the company's stock after selling 16,221 shares during the quarter. Treasurer of the State of North Carolina's holdings in Core & Main were worth $4,295,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased 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 valued at $927,580,000 after purchasing an additional 221,970 shares during the last quarter. FMR LLC raised its stake in Core & Main by 4.1% in the fourth quarter. FMR LLC now owns 9,055,993 shares of the company's stock valued at $461,041,000 after buying an additional 358,909 shares in the last quarter. Invesco Ltd. boosted its position in shares of Core & Main by 0.8% during the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock worth $301,722,000 after acquiring an additional 44,513 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Core & Main by 0.5% in the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock valued at $195,250,000 after acquiring an additional 20,756 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised 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 acquiring an additional 48,833 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Performance

CNM traded down $1.62 during trading on Monday, reaching $47.98. The company's stock had a trading volume of 71,378 shares, compared to its average volume of 2,294,610. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The company's fifty day moving average price is $49.23 and its 200-day moving average price is $49.47. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. 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 (NYSE:CNM - Get Free Report) last released 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). The business had revenue of $1.70 billion during the quarter, compared to analyst estimates 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 was up 17.9% compared to the same quarter last year. During the same period last year, the business posted $0.34 EPS. On average, equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Core & Main

In related news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the firm'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 sale, the chief accounting officer now owns 4,120 shares in the company, valued at $207,977.60. This trade represents a 91.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,831 shares of company stock valued at $4,504,152. Corporate insiders own 3.49% of the company's stock.

Analysts Set New Price Targets

CNM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. Citigroup lifted their price target 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. Royal Bank of Canada dropped their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Robert W. Baird reduced their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company raised their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. 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. According to MarketBeat.com, the company currently has a consensus 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.