Assenagon Asset Management S.A. Decreases Stock Position in Core & Main, Inc. (NYSE:CNM)

Assenagon Asset Management S.A. lowered its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 84.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,619 shares of the company's stock after selling 42,839 shares during the period. Assenagon Asset Management S.A.'s holdings in Core & Main were worth $368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after buying an additional 532 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after buying an additional 1,089 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after buying an additional 278 shares during the last quarter. Blue Trust Inc. grew its position in shares of Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after buying an additional 830 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in shares of Core & Main in the 4th quarter valued at about $75,000. Institutional investors own 94.19% of the company's stock.

Insider Transactions at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 900 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.03, for a total transaction of $54,027.00. Following the completion of the sale, the general counsel now directly owns 9,691 shares of the company's stock, valued at approximately $581,750.73. This trade represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction that occurred 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 sale, 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. Insiders sold a total of 157,666 shares of company stock valued at $8,770,352 over the last ninety days. 3.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Loop Capital upped their price target on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Robert W. Baird cut their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Royal Bank Of Canada upped their target price on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and a consensus price target of $59.55.

Core & Main Stock Up 2.2%

CNM stock traded up $1.24 during trading on Monday, reaching $58.30. 1,439,990 shares of the stock were exchanged, compared to its average volume of 2,285,793. The firm has a market cap of $11.49 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $60.38. The firm's 50 day moving average is $53.95 and its 200 day moving average is $52.23. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The company's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

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.