NBC Securities Inc. Purchases 10,441 Shares of Core & Main, Inc. (NYSE:CNM)

NBC Securities Inc. lifted its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 94,918.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,452 shares of the company's stock after buying an additional 10,441 shares during the quarter. NBC Securities Inc.'s holdings in Core & Main were worth $504,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CNM. Vanguard Group Inc. lifted its stake in Core & Main by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after purchasing an additional 221,970 shares in the last quarter. FMR LLC lifted its stake in Core & Main by 4.1% in the 4th quarter. FMR LLC now owns 9,055,993 shares of the company's stock worth $461,041,000 after purchasing an additional 358,909 shares in the last quarter. Invesco Ltd. lifted its stake in Core & Main by 0.8% in the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock worth $301,722,000 after purchasing an additional 44,513 shares in the last quarter. Bessemer Group Inc. lifted its stake in Core & Main by 0.5% in the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock worth $195,250,000 after purchasing an additional 20,756 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Core & Main by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock worth $194,005,000 after purchasing an additional 48,833 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNM. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Robert W. Baird lowered their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Finally, Royal Bank of Canada lowered their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $57.91.

Insider Buying and Selling

In related news, insider Laura K. Schneider sold 45,695 shares of Core & Main 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 transaction, the insider now owns 12,873 shares in the company, 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 through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. The trade was a 57.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,534 shares of company stock worth $6,792,712 in the last 90 days. 3.53% of the stock is owned by company insiders.

Core & Main Price Performance

Shares of Core & Main stock traded down $0.04 on Friday, hitting $59.65. 1,786,994 shares of the company traded hands, compared to its average volume of 2,272,742. The firm's 50-day simple moving average is $51.88 and its 200 day simple moving average is $51.60. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a market cap of $11.80 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.61 and a beta of 1.02. 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 data 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). The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. Analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

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.