Commerce Bank Sells 4,693 Shares of Core & Main, Inc. (NYSE:CNM)

Commerce Bank decreased its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 35.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,668 shares of the company's stock after selling 4,693 shares during the period. Commerce Bank's holdings in Core & Main were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CNM. Jennison Associates LLC bought a new position in shares of Core & Main in the 1st quarter worth about $54,742,000. Artemis Investment Management LLP lifted its stake in Core & Main by 109.6% in the first quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after buying an additional 936,863 shares during the period. First Trust Advisors LP boosted its holdings in shares of Core & Main by 38.4% during the 4th quarter. First Trust Advisors LP now owns 3,328,182 shares of the company's stock worth $169,438,000 after buying an additional 923,287 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Core & Main during the 4th quarter worth approximately $24,032,000. Finally, Renaissance Technologies LLC increased its stake in shares of Core & Main by 498.7% in the 4th quarter. Renaissance Technologies LLC now owns 448,400 shares of the company's stock valued at $22,828,000 after acquiring an additional 373,500 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Mark G. Whittenburg sold 49,100 shares of the 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 completion of the transaction, the general counsel directly owned 9,691 shares of the company's stock, valued at $581,750.73. This represents a 83.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laura K. Schneider sold 45,695 shares of Core & Main stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the sale, the insider directly owned 12,873 shares in the company, valued at $724,106.25. This trade represents a 78.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 428,445 shares of company stock worth $26,045,755 in the last ninety days. Corporate insiders own 3.53% of the company's stock.

Core & Main Stock Down 0.2%

Core & Main stock traded down $0.15 during midday trading on Friday, hitting $63.95. 1,394,198 shares of the stock were exchanged, compared to its average volume of 1,783,679. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $65.97. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. The business's 50-day moving average price is $60.89 and its 200-day moving average price is $54.65. The stock has a market capitalization of $12.61 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. Core & Main's revenue was up 9.8% on a year-over-year basis. During the same period last year, the business posted $0.49 earnings per share. On average, research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Wells Fargo & Company raised their target price on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Citigroup boosted their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. increased their price target on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Loop Capital reaffirmed a "hold" rating and set a $68.00 target price on shares of Core & Main in a research report on Monday, July 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.00.

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.