E. Ohman J or Asset Management AB Lowers Stake in Core & Main, Inc. (NYSE:CNM)

E. Ohman J or Asset Management AB reduced its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,543 shares of the company's stock after selling 8,061 shares during the period. E. Ohman J or Asset Management AB's holdings in Core & Main were worth $2,490,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in Core & Main during the fourth quarter valued at $115,555,000. Norges Bank bought a new stake in shares of Core & Main in the 4th quarter worth about $99,734,000. Impax Asset Management Group plc raised its position in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $174,661,000 after buying an additional 1,416,907 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Core & Main by 4,757.9% in the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock valued at $57,953,000 after acquiring an additional 1,114,913 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Core & Main by 38.4% in the 4th quarter. First Trust Advisors LP now owns 3,328,182 shares of the company's stock valued at $169,438,000 after acquiring an additional 923,287 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Down 2.1%

Shares of NYSE CNM traded down $1.24 during trading hours on Tuesday, hitting $58.10. 4,738,437 shares of the stock were exchanged, compared to its average volume of 2,295,241. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $60.38. The firm has a fifty day moving average price of $52.26 and a 200-day moving average price of $51.84. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market cap of $11.50 billion, a PE ratio of 27.27, a PEG ratio of 2.61 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report 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 target for the company. Citigroup reaffirmed a "neutral" rating on shares of Core & Main in a research report on Tuesday. Royal Bank of Canada reissued an "outperform" rating on shares of Core & Main in a report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.91.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 49,100 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $60.03, for a total value of $2,947,473.00. 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 83.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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. This represents a 91.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,666 shares of company stock worth $8,770,352. 3.53% of the stock is owned by corporate 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.