Core & Main, Inc. (NYSE:CNM) Stake Reduced by Bessemer Group Inc.

Bessemer Group Inc. lowered its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 12.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,357,231 shares of the company's stock after selling 477,951 shares during the quarter. Bessemer Group Inc. owned 1.70% of Core & Main worth $162,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in Core & Main by 12.3% during the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after purchasing an additional 197 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Core & Main by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock valued at $343,000 after purchasing an additional 229 shares during the period. Quadrant Capital Group LLC lifted its stake 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 purchasing an additional 278 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Core & Main by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock worth $299,000 after purchasing an additional 287 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Core & Main by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company's stock worth $1,076,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on CNM shares. Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Royal Bank Of Canada lifted their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research note on Tuesday, June 10th. Wells Fargo & Company boosted their target price on shares of Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. Citigroup raised their price target on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.55.

Insider Activity at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 900 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $60.03, for a total transaction of $54,027.00. Following the sale, the general counsel now directly owns 9,691 shares of the company's stock, valued at approximately $581,750.73. This represents a 8.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John Weldon Stephens sold 10,214 shares of Core & Main 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 transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at $218,442.40. This trade represents a 71.26% 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 valued at $8,770,352 over the last three months. 3.53% of the stock is owned by insiders.

Core & Main Stock Up 1.7%

CNM traded up $1.01 during trading on Friday, hitting $60.31. The company had a trading volume of 3,029,305 shares, compared to its average volume of 2,290,979. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $60.40. 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 company has a market cap of $11.89 billion, a PE ratio of 28.05, a P/E/G ratio of 1.75 and a beta of 1.02. The business has a 50-day moving average of $54.76 and a 200-day moving average of $52.42.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share 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 quarter in the previous year, the firm earned $0.49 EPS. The company's revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Core & Main Company 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.