Core & Main, Inc. (NYSE:CNM) Shares Sold by E. Ohman J or Asset Management AB

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

A number of other hedge funds and other institutional investors have also modified their holdings of CNM. Blue Trust Inc. increased its stake in shares of Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after acquiring an additional 830 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Core & Main by 8.6% in the 4th quarter. Summit Trail Advisors LLC now owns 9,690 shares of the company's stock worth $493,000 after acquiring an additional 767 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in shares of Core & Main by 13.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock worth $3,331,000 after acquiring an additional 7,565 shares during the last quarter. New Mexico Educational Retirement Board increased its stake in shares of Core & Main by 10.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 39,600 shares of the company's stock worth $2,016,000 after acquiring an additional 3,900 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its stake in shares of Core & Main by 9.3% in the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 8,838 shares of the company's stock worth $450,000 after acquiring an additional 752 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Performance

Shares of Core & Main stock opened at $59.65 on Friday. The business has a 50-day moving average of $51.88 and a 200 day moving average of $51.60. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $60.32. The stock has a market capitalization of $11.80 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter last year, the business earned $0.34 earnings per share. The business's revenue was up 17.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CNM. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. Royal Bank of Canada lowered their price target on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. 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, Robert W. Baird lowered their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. One equities research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.91.

Insider Activity at Core & Main

In related news, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction dated 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 directly owns 16,452 shares in the company, valued at $770,282.64. This trade represents a 57.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura K. Schneider sold 45,695 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $724,106.25. This trade represents a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,534 shares of company stock worth $6,792,712 in the last three months. 3.53% of the stock is owned by company 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.

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