KBC Group NV Purchases 86,672 Shares of Core & Main, Inc. (NYSE:CNM)

KBC Group NV lifted its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,725,810 shares of the company's stock after acquiring an additional 86,672 shares during the quarter. KBC Group NV owned approximately 0.87% of Core & Main worth $83,374,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new position in shares of Core & Main during the 4th quarter worth approximately $115,555,000. Norges Bank acquired a new position in Core & Main in the 4th quarter valued at about $99,734,000. Federated Hermes Inc. raised its holdings in Core & Main by 4,757.9% in the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock valued at $57,953,000 after acquiring an additional 1,114,913 shares during the period. Artemis Investment Management LLP lifted its position in Core & Main by 109.6% during the first quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock worth $86,568,000 after acquiring an additional 936,863 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Core & Main by 38.4% during the fourth quarter. First Trust Advisors LP now owns 3,328,182 shares of the company's stock worth $169,438,000 after acquiring an additional 923,287 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Insider Transactions at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 49,100 shares of the company's stock in a transaction 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 completion of the sale, the general counsel owned 9,691 shares in the company, valued at approximately $581,750.73. This represents a 83.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction 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 represents a 71.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,703 shares of company stock valued at $6,652,060 in the last 90 days. Corporate insiders own 3.53% of the company's stock.

Core & Main Trading Up 0.9%

NYSE CNM traded up $0.57 during mid-day trading on Wednesday, reaching $61.86. 1,532,510 shares of the stock were exchanged, compared to its average volume of 2,281,192. 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 50 day simple moving average of $55.24 and a 200-day simple moving average of $52.53. Core & Main, Inc. has a one year low of $37.22 and a one year high of $61.93. The stock has a market cap of $12.19 billion, a P/E ratio of 28.77, a P/E/G ratio of 1.78 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last issued its 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 net margin of 5.47% and a return on equity of 23.55%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. Core & Main's revenue was up 9.8% on a year-over-year basis. On average, analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CNM shares. Robert W. Baird dropped their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. Royal Bank Of Canada raised their target price 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. Loop Capital boosted their target price on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. Finally, Wells Fargo & Company raised their price target on shares of Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company 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.