Core & Main, Inc. (NYSE:CNM) Shares Purchased by KBC Group NV

KBC Group NV boosted its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,725,810 shares of the company's stock after acquiring an additional 86,672 shares during the period. KBC Group NV owned 0.87% of Core & Main worth $83,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CNM. Parallel Advisors LLC grew its holdings in shares of Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after buying an additional 532 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Core & Main by 1,491.8% during 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 in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of 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 buying an additional 278 shares in the last quarter. Ancora Advisors LLC purchased a new stake in shares of Core & Main during the fourth quarter worth about $75,000. Finally, US Bancorp DE grew its holdings in shares of Core & Main by 12.3% during the fourth quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after buying an additional 197 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 49,100 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the completion of the sale, the general counsel now directly owns 9,691 shares in the company, valued at $581,750.73. The trade was a 83.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at approximately $207,977.60. This represents a 91.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,666 shares of company stock worth $8,770,352 over the last ninety days. 3.53% of the stock is owned by company insiders.

Core & Main Price Performance

Core & Main stock opened at $60.31 on Friday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $60.40. The firm has a 50 day moving average price of $54.76 and a 200 day moving average price of $52.42. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 1.78 and a beta of 1.02. 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 (NYSE:CNM - Get Free Report) last released its quarterly earnings data 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 net margin of 5.47% and a return on equity of 23.55%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. Core & Main's revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

CNM has been the subject of a number of recent research reports. Loop Capital lifted their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Robert W. Baird lowered their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their price target 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. Royal Bank Of Canada lifted their price target on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $59.55.

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.

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