Border to Coast Pensions Partnership Ltd Boosts Holdings in Core & Main, Inc. (NYSE:CNM)

Border to Coast Pensions Partnership Ltd grew its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 18.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 558,382 shares of the company's stock after acquiring 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE boosted its holdings in Core & Main by 12.3% in the fourth quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after acquiring an additional 197 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Core & Main by 3.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock valued at $343,000 after buying an additional 229 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of 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 buying an additional 278 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of 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 worth $1,076,000 after purchasing an additional 330 shares in the last quarter. Finally, Arizona State Retirement System lifted its stake in Core & Main by 0.6% during the 4th quarter. Arizona State Retirement System now owns 55,910 shares of the company's stock valued at $2,846,000 after acquiring an additional 360 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Price Performance

Core & Main stock traded down $0.12 during mid-day trading on Monday, reaching $60.24. The company had a trading volume of 1,824,342 shares, compared to its average volume of 2,280,782. The business has a fifty day simple moving average of $54.76 and a 200 day simple moving average of $52.42. The company has a market cap of $11.88 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.78 and a beta of 1.02. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $61.06. 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 results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

CNM has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective on the stock. Robert W. Baird reduced their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. 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. Royal Bank Of Canada boosted their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company lifted their price target on Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $59.55.

Insider Activity at Core & Main

In related news, EVP John R. Schaller sold 9,794 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total value of $538,670.00. Following the completion of the sale, the executive vice president now owns 19,689 shares in the company, valued at approximately $1,082,895. The trade was a 33.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 900 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $60.03, for a total value 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 represents a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,666 shares of company stock valued at $8,770,352 over the last 90 days. Corporate insiders own 3.53% of the company's stock.

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.