Envestnet Asset Management Inc. raised its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,896 shares of the company's stock after acquiring an additional 9,473 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Core & Main worth $7,725,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Truist Financial Corp raised its holdings in shares of Core & Main by 21.2% in the 1st quarter. Truist Financial Corp now owns 705,339 shares of the company's stock valued at $34,075,000 after acquiring an additional 123,494 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Core & Main by 7.7% in the 1st quarter. Teacher Retirement System of Texas now owns 54,578 shares of the company's stock valued at $2,637,000 after acquiring an additional 3,908 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Core & Main in the 1st quarter valued at about $37,000. Summit Trail Advisors LLC raised its holdings in shares of Core & Main by 23.8% in the 1st quarter. Summit Trail Advisors LLC now owns 11,993 shares of the company's stock valued at $579,000 after acquiring an additional 2,303 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in shares of Core & Main by 3.0% in the 1st quarter. Peregrine Capital Management LLC now owns 224,904 shares of the company's stock valued at $10,865,000 after acquiring an additional 6,513 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.
Analysts Set New Price Targets
CNM has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Loop Capital raised their price objective on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Citigroup raised their price objective on 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 raised their price objective on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. raised their price objective on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.
Check Out Our Latest Report on Core & Main
Insider Buying and Selling at Core & Main
In related news, General Counsel Mark G. Whittenburg sold 49,100 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the transaction, the general counsel directly owned 9,691 shares in the company, valued at $581,750.73. This trade represents a 83.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James G. Castellano sold 43,994 shares of the firm'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 value of $2,726,748.12. Following the transaction, the director owned 4,638 shares in the company, valued at approximately $287,463.24. The trade was a 90.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,659 shares of company stock worth $26,587,301 over the last quarter. Company insiders own 3.53% of the company's stock.
Core & Main Trading Up 0.9%
CNM traded up $0.56 on Friday, hitting $65.73. 1,535,613 shares of the company were exchanged, compared to its average volume of 1,800,000. The firm has a fifty day simple moving average of $58.82 and a two-hundred day simple moving average of $53.95. 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 12 month low of $37.22 and a 12 month high of $65.94. The stock has a market capitalization of $12.96 billion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 1.94 and a beta of 1.04.
Core & Main (NYSE:CNM - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the company earned $0.49 EPS. Core & Main's revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.
Core & Main Profile
(
Free Report)
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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