Union Bancaire Privee UBP SA Decreases Stake in Core & Main, Inc. (NYSE:CNM)

Union Bancaire Privee UBP SA trimmed its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 64.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,012 shares of the company's stock after selling 33,944 shares during the quarter. Union Bancaire Privee UBP SA's holdings in Core & Main were worth $949,000 as of its most recent filing with the SEC.

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

Core & Main Stock Performance

Core & Main stock traded down $0.22 during midday trading on Monday, hitting $55.90. 2,361,146 shares of the company's stock were exchanged, compared to its average volume of 2,294,130. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $60.38. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. The firm's 50 day simple moving average is $53.17 and its 200 day simple moving average is $52.13.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm posted $0.49 EPS. Core & Main's revenue for the quarter was up 9.8% on a year-over-year basis. Equities research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

CNM has been the subject of several recent research reports. Citigroup raised their price objective on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Wells Fargo & Company raised their target price on shares of Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. raised their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Loop Capital raised their target price on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Finally, 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 report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Core & Main currently has a consensus rating of "Moderate Buy" and an average target price of $59.55.

Insiders Place Their Bets

In other Core & Main news, EVP John R. Schaller sold 9,794 shares of the business's stock in a transaction 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 approximately $1,082,895. The trade was a 33.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO John Weldon Stephens sold 10,214 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction of $541,546.28. Following the completion of the transaction, the chief accounting officer now directly owns 4,120 shares in the company, valued at $218,442.40. This represents a 71.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,666 shares of company stock valued at $8,770,352. Insiders own 3.53% of the company's stock.

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.