Core & Main, Inc. (NYSE:CNM) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lowered its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 65.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,102 shares of the company's stock after selling 9,803 shares during the period. Gotham Asset Management LLC's holdings in Core & Main were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CNM. Ritholtz Wealth Management lifted its holdings in shares of Core & Main by 4.3% in the 4th quarter. Ritholtz Wealth Management now owns 14,647 shares of the company's stock valued at $746,000 after buying an additional 601 shares during the period. Avanza Fonder AB acquired a new position in Core & Main during the fourth quarter worth $97,000. UMB Bank n.a. raised its position in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after acquiring an additional 684 shares in the last quarter. Perpetual Ltd lifted its holdings in Core & Main by 42.7% in the fourth quarter. Perpetual Ltd now owns 199,061 shares of the company's stock valued at $10,134,000 after acquiring an additional 59,575 shares during the period. Finally, Clear Harbor Asset Management LLC boosted its position in shares of Core & Main by 0.8% during the 4th quarter. Clear Harbor Asset Management LLC now owns 235,911 shares of the company's stock worth $12,010,000 after purchasing an additional 1,971 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insiders Place Their Bets

In other news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. The trade was a 57.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO John Weldon Stephens sold 10,214 shares of the company's 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 transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at approximately $218,442.40. This represents a 71.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,045 shares of company stock valued at $3,683,698. Corporate insiders own 3.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CNM shares. Wells Fargo & Company increased their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Royal Bank of Canada dropped their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Robert W. Baird reduced their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $57.55.

Core & Main Price Performance

CNM traded down $0.16 during midday trading on Monday, reaching $53.07. 920,811 shares of the company's stock were exchanged, compared to its average volume of 2,320,428. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $60.12. The stock has a market capitalization of $10.50 billion, a PE ratio of 24.92, a P/E/G ratio of 2.61 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The business's 50-day moving average price is $50.51 and its 200 day moving average price is $50.86.

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

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.