Border to Coast Pensions Partnership Ltd Purchases 88,540 Shares of Core & Main, Inc. (NYSE:CNM)

Border to Coast Pensions Partnership Ltd lifted its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 18.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 558,382 shares of the company's stock after purchasing an additional 88,540 shares during the period. Border to Coast Pensions Partnership Ltd owned about 0.28% of Core & Main worth $26,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after acquiring an additional 221,970 shares during the period. FMR LLC boosted its stake in Core & Main by 4.1% in the 4th 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 during the period. Invesco Ltd. lifted its holdings in shares of Core & Main by 0.8% in the fourth quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock worth $301,722,000 after buying an additional 44,513 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Core & Main by 0.5% during the fourth quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock worth $195,250,000 after acquiring an additional 20,756 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in Core & Main by 1.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock valued at $194,005,000 after acquiring an additional 48,833 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Citigroup lifted their price objective on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada upped their price target on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Loop Capital increased their price objective on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. upped their price objective 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.55.

Insider Transactions at Core & Main

In related news, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the transaction, the general counsel now directly owns 9,691 shares of the company's stock, valued at $581,750.73. This represents a 83.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,666 shares of company stock valued at $8,770,352. Corporate insiders own 3.53% of the company's stock.

Core & Main Price Performance

Core & Main stock opened at $59.34 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.74 and a beta of 1.02. The firm has a 50-day moving average of $54.55 and a two-hundred day moving average of $52.37. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $60.38.

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