Core & Main, Inc. (NYSE:CNM) Holdings Decreased by Bessemer Group Inc.

Bessemer Group Inc. lowered its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,357,231 shares of the company's stock after selling 477,951 shares during the period. Bessemer Group Inc. owned about 1.70% of Core & Main worth $162,189,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after acquiring an additional 532 shares during the period. Versant Capital Management Inc increased its stake in shares of Core & Main by 1,491.8% in the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after purchasing an additional 1,089 shares during the period. Quadrant Capital Group LLC raised 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 valued at $61,000 after buying an additional 278 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after buying an additional 830 shares during the period. Finally, Ancora Advisors LLC bought a new position in Core & Main in the 4th quarter worth approximately $75,000. 94.19% of the stock is currently owned by institutional investors.

Insider Transactions at Core & Main

In other news, EVP John R. Schaller sold 9,794 shares of Core & Main stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total value of $538,670.00. Following the transaction, the executive vice president now directly owns 19,689 shares of the company's stock, valued at $1,082,895. This trade represents a 33.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the general counsel now owns 9,691 shares in the company, valued at $581,750.73. This represents a 83.52% decrease in their position. 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 in the last three months. 3.53% of the stock is currently owned by corporate insiders.

Core & Main Price Performance

NYSE CNM traded down $0.40 on Wednesday, reaching $59.00. The company's stock had a trading volume of 2,046,167 shares, compared to its average volume of 2,284,839. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $60.38. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. The stock has a market cap of $11.63 billion, a PE ratio of 27.44, a PEG ratio of 1.72 and a beta of 1.02. The firm's 50 day moving average is $54.15 and its two-hundred day moving average is $52.28.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates 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 the consensus estimate of $1.84 billion. During the same period in the previous year, the firm earned $0.49 EPS. The business's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup lifted their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Robert W. Baird cut their price objective 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. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective 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 company an "outperform" rating in a research note on Tuesday, June 10th. Finally, Loop Capital upped their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and an average price target 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.