Bank of New York Mellon Corp Sells 23,767 Shares of Core & Main, Inc. (NYSE:CNM)

Bank of New York Mellon Corp decreased its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 1.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,207,849 shares of the company's stock after selling 23,767 shares during the period. Bank of New York Mellon Corp owned 0.61% of Core & Main worth $58,351,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE grew its position in Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after purchasing an additional 197 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Core & Main by 3.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after buying an additional 229 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after acquiring an additional 278 shares during the period. State of Alaska Department of Revenue raised its holdings in Core & Main by 1.5% in the 1st quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company's stock valued at $1,076,000 after acquiring an additional 330 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Core & Main by 6.4% in the 4th quarter. Stifel Financial Corp now owns 8,353 shares of the company's stock worth $425,000 after acquiring an additional 504 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNM shares. Loop Capital raised their target price on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. boosted their price objective on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Wells Fargo & Company upped their price target on shares of Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada increased their target price on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. 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, Core & Main currently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Insider Transactions at Core & Main

In other Core & Main news, insider Laura K. Schneider sold 45,695 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the sale, the insider owned 12,873 shares of the company's stock, valued at approximately $724,106.25. The trade was a 78.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $60.03, for a total value of $2,947,473.00. Following the completion of the transaction, the general counsel directly owned 9,691 shares of the company's stock, valued at approximately $581,750.73. The trade was a 83.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 265,703 shares of company stock worth $15,931,870. Corporate insiders own 3.53% of the company's stock.

Core & Main Stock Performance

Shares of CNM stock traded down $0.39 on Monday, hitting $61.20. The company's stock had a trading volume of 1,176,619 shares, compared to its average volume of 2,006,903. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $63.25. The company has a market capitalization of $12.06 billion, a PE ratio of 28.46, a PEG ratio of 1.82 and a beta of 1.04. The stock's 50 day moving average is $56.75 and its 200-day moving average is $53.15. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96.

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