Charles Schwab Investment Management Inc. Has $86.07 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Charles Schwab Investment Management Inc. boosted its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,781,525 shares of the company's stock after buying an additional 114,760 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.90% of Core & Main worth $86,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. CWM LLC grew its holdings in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after buying an additional 213 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Core & Main by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after purchasing an additional 229 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in Core & Main by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock valued at $527,000 after acquiring an additional 272 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Core & Main by 1.5% during the first 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, Xponance Inc. grew its stake in shares of Core & Main by 1.1% in the 1st quarter. Xponance Inc. now owns 33,523 shares of the company's stock worth $1,619,000 after buying an additional 363 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Performance

Shares of CNM traded down $0.31 during mid-day trading on Friday, reaching $64.20. 2,096,832 shares of the company's stock were exchanged, compared to its average volume of 1,857,785. The business's fifty day simple moving average is $61.54 and its 200-day simple moving average is $54.93. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $65.97. 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 capitalization of $12.66 billion, a PE ratio of 29.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results 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 business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The business's revenue was up 9.8% on a year-over-year basis. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James G. Castellano sold 43,994 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the sale, the director directly owned 4,638 shares of the company's stock, valued at approximately $287,463.24. This represents a 90.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $60.03, for a total value of $2,947,473.00. Following the transaction, the general counsel directly owned 9,691 shares of the company's stock, valued at $581,750.73. This represents a 83.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 428,445 shares of company stock worth $26,045,755 over the last 90 days. 3.53% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on CNM. JPMorgan Chase & Co. raised their target price on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Wells Fargo & Company lifted their price objective 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. Loop Capital reiterated a "hold" rating and set a $68.00 price objective on shares of Core & Main in a report on Monday, July 28th. Citigroup lifted their price objective 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. Finally, Royal Bank Of Canada lifted 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. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Core & Main presently has a consensus rating of "Hold" and a consensus target price of $60.00.

About Core & Main

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.