Core & Main, Inc. (NYSE:CNM) Shares Purchased by Truist Financial Corp

Truist Financial Corp raised its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 21.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 705,339 shares of the company's stock after purchasing an additional 123,494 shares during the quarter. Truist Financial Corp owned 0.36% of Core & Main worth $34,075,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after purchasing an additional 532 shares during the last quarter. Rossby Financial LCC purchased a new stake in Core & Main during the 1st quarter valued at about $37,000. Versant Capital Management Inc boosted its stake in shares of Core & Main by 1,491.8% in the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after buying an additional 1,089 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after acquiring an additional 278 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in Core & Main during the fourth quarter worth about $75,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insiders Place Their Bets

In related news, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $53.02, for a total value of $541,546.28. Following the completion of the sale, the chief accounting officer owned 4,120 shares of the company's stock, valued at approximately $218,442.40. This trade represents a 71.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robyn L. Bradbury sold 25,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $60.49, for a total value of $1,512,250.00. Following the completion of the sale, the chief financial officer directly owned 8,555 shares of the company's stock, valued at approximately $517,491.95. This represents a 74.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 265,703 shares of company stock valued at $15,931,870. 3.53% of the stock is owned by corporate insiders.

Core & Main Price Performance

CNM stock traded up $0.02 during mid-day trading on Thursday, reaching $62.27. 2,549,637 shares of the company's stock were exchanged, compared to its average volume of 2,286,280. The company has a market cap of $12.28 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 1.84 and a beta of 1.04. The stock's 50 day moving average is $56.41 and its 200 day moving average is $52.98. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $63.78. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10.

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

Wall Street Analyst Weigh In

CNM has been the topic of several analyst reports. Citigroup raised their target price on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Loop Capital raised their target price on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Wells Fargo & Company raised their target price on Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday. 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" 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.