NBC Securities Inc. Grows Stock Holdings in Core & Main, Inc. (NYSE:CNM)

NBC Securities Inc. raised its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 94,918.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,452 shares of the company's stock after purchasing an additional 10,441 shares during the quarter. NBC Securities Inc.'s holdings in Core & Main were worth $504,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CNM. US Bancorp DE raised its position in Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock valued at $91,000 after buying an additional 197 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after acquiring an additional 278 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Core & Main by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock valued at $299,000 after purchasing an additional 287 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Core & Main by 0.6% during the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company's stock valued at $2,846,000 after purchasing an additional 360 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Core & Main by 6.4% during the fourth quarter. Stifel Financial Corp now owns 8,353 shares of the company's stock valued at $425,000 after purchasing an additional 504 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

Analysts Set New Price Targets

CNM has been the subject of several analyst reports. Royal Bank of Canada decreased their price objective on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target for the company. Robert W. Baird dropped their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. upped their price objective on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. 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. According to MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and a consensus target price of $57.91.

Core & Main Stock Performance

NYSE:CNM traded down $0.42 during trading hours on Monday, reaching $59.26. The stock had a trading volume of 4,974,052 shares, compared to its average volume of 2,283,852. The stock has a market cap of $11.73 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. The stock has a 50 day simple moving average of $51.88 and a 200 day simple moving average of $51.70. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $60.32.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The firm's revenue was up 17.9% compared to the same quarter last year. On average, research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core & Main news, insider Laura K. Schneider sold 45,695 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were 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 now directly owns 12,873 shares of the company's stock, valued at $724,106.25. This trade represents a 78.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the transaction, the chief accounting officer now owns 4,120 shares of the company's stock, valued at approximately $207,977.60. The trade was a 91.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 107,666 shares of company stock worth $5,768,852 over the last quarter. 3.53% of the stock is currently owned by company insiders.

Core & Main 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.