Brandywine Global Investment Management LLC Has $7.32 Million Stock Position in Core & Main, Inc. (NYSE:CNM)

Key Points

• Brandywine Global Investment Management LLC increased its stake in Core & Main, Inc. by 21.4%, now owning 151,605 shares valued at approximately $7.32 million.
• Core & Main has received mixed ratings from analysts, with a consensus rating of "Hold" and an average price target of $60.00.
• Insiders have sold a total of 428,445 shares of Core & Main stock recently, indicating a significant reduction in their holdings.

Brandywine Global Investment Management LLC boosted its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 21.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 151,605 shares of the company's stock after purchasing an additional 26,706 shares during the period. Brandywine Global Investment Management LLC owned about 0.08% of Core & Main worth $7,324,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CNM. LPL Financial LLC lifted its stake in Core & Main by 16.1% in the 4th quarter. LPL Financial LLC now owns 17,757 shares of the company's stock valued at $904,000 after purchasing an additional 2,461 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Core & Main by 8.0% in the 4th quarter. Wells Fargo & Company MN now owns 118,144 shares of the company's stock valued at $6,015,000 after acquiring an additional 8,783 shares during the period. Envestnet Asset Management Inc. raised its holdings in Core & Main by 12.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 150,423 shares of the company's stock valued at $7,658,000 after acquiring an additional 16,589 shares during the period. Sterling Capital Management LLC raised its holdings in Core & Main by 23.5% in the 4th quarter. Sterling Capital Management LLC now owns 5,982 shares of the company's stock valued at $305,000 after acquiring an additional 1,139 shares during the period. Finally, Barclays PLC raised its holdings in Core & Main by 23.1% in the 4th quarter. Barclays PLC now owns 306,425 shares of the company's stock valued at $15,601,000 after acquiring an additional 57,516 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNM has been the topic of several research analyst reports. Loop Capital reissued a "hold" rating and issued a $68.00 price target on shares of Core & Main in a report on Monday, July 28th. Citigroup increased their price target on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Royal Bank Of Canada increased their price target 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. JPMorgan Chase & Co. increased their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, Wells Fargo & Company increased 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Core & Main has a consensus rating of "Hold" and an average price target of $60.00.

Core & Main Stock Down 0.5%

Shares of CNM opened at $64.20 on Friday. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $65.97. The firm's 50 day moving average is $61.54 and its 200-day moving average is $54.93. The stock has a market capitalization of $12.66 billion, a PE ratio of 29.86, a P/E/G ratio of 1.89 and a beta of 1.04. 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 announced its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the firm earned $0.49 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In related news, insider Laura K. Schneider sold 45,695 shares of Core & Main stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total value of $2,570,343.75. Following the transaction, the insider directly owned 12,873 shares of the company's stock, valued at $724,106.25. This trade represents a 78.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James G. Castellano sold 43,994 shares of Core & Main stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of the transaction, the director directly owned 4,638 shares in the company, valued at $287,463.24. This trade represents a 90.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 428,445 shares of company stock valued at $26,045,755 over the last three months. 3.53% of the stock is owned by corporate insiders.

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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