Allianz Asset Management GmbH Buys 11,982 Shares of Core & Main, Inc. (NYSE:CNM)

Allianz Asset Management GmbH increased its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 815,435 shares of the company's stock after acquiring an additional 11,982 shares during the period. Allianz Asset Management GmbH owned about 0.41% of Core & Main worth $39,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNM. Corient Private Wealth LLC raised its position in Core & Main by 9.2% during the 4th quarter. Corient Private Wealth LLC now owns 7,117 shares of the company's stock valued at $362,000 after purchasing an additional 599 shares during the last quarter. Teacher Retirement System of Texas raised its position in Core & Main by 104.2% during the 4th quarter. Teacher Retirement System of Texas now owns 50,670 shares of the company's stock valued at $2,580,000 after purchasing an additional 25,851 shares during the last quarter. American Century Companies Inc. raised its position in Core & Main by 6.3% during the 4th quarter. American Century Companies Inc. now owns 1,384,886 shares of the company's stock valued at $70,505,000 after purchasing an additional 81,706 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Core & Main in the 4th quarter worth approximately $1,985,000. Finally, LPL Financial LLC raised its position in shares of Core & Main by 16.1% in the 4th quarter. LPL Financial LLC now owns 17,757 shares of the company's stock worth $904,000 after acquiring an additional 2,461 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

Insider Activity

In related news, General Counsel Mark G. Whittenburg sold 49,100 shares of the firm's stock in a transaction on Monday, June 9th. The stock was 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 approximately $581,750.73. This trade represents a 83.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura K. Schneider sold 45,695 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total value of $2,570,343.75. Following the completion of the transaction, the insider directly owned 12,873 shares in the company, valued at approximately $724,106.25. This represents a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,659 shares of company stock worth $26,587,301. Insiders own 3.53% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CNM shares. JPMorgan Chase & Co. increased their target price on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. Robert W. Baird cut their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Citigroup upped their price target on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Finally, Loop Capital upped their price target on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Core & Main Stock Performance

Shares of NYSE CNM traded up $0.17 during midday trading on Thursday, hitting $65.17. 1,228,178 shares of the stock traded hands, compared to its average volume of 1,817,001. The firm has a 50-day moving average of $58.59 and a two-hundred day moving average of $53.83. The firm has a market capitalization of $12.85 billion, a P/E ratio of 30.31, a PEG ratio of 1.92 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. Core & Main, Inc. has a one year low of $37.22 and a one year high of $65.88.

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 for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The company's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. On average, equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

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.