DekaBank Deutsche Girozentrale Sells 12,847 Shares of Core & Main, Inc. (NYSE:CNM)

DekaBank Deutsche Girozentrale reduced its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 47.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,429 shares of the company's stock after selling 12,847 shares during the period. DekaBank Deutsche Girozentrale's holdings in Core & Main were worth $697,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. US Bancorp DE boosted its holdings in Core & Main by 12.3% during the fourth quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after purchasing an additional 197 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Core & Main by 3.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after purchasing an additional 229 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Core & Main by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock worth $527,000 after purchasing an additional 272 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Core & Main by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company's stock valued at $1,076,000 after acquiring an additional 330 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Robert W. Baird dropped their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Royal Bank Of Canada upped their target price on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Wells Fargo & Company upped their target price on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price target on shares of 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 increased their price target on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. 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. According to MarketBeat, Core & Main has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Core & Main Trading Down 1.8%

Shares of NYSE:CNM traded down $1.11 on Tuesday, hitting $60.09. The company had a trading volume of 929,008 shares, compared to its average volume of 2,291,656. The firm's 50-day simple moving average is $56.91 and its two-hundred day simple moving average is $53.22. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $63.25. 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 firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 27.95, a P/E/G ratio of 1.81 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. Core & Main's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. Equities analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robyn L. Bradbury sold 25,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $60.49, for a total value of $1,512,250.00. Following the completion of the transaction, the chief financial officer directly owned 8,555 shares in the company, valued at $517,491.95. This trade represents a 74.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the stock in a transaction dated Monday, June 9th. The stock was 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 owned 9,691 shares of the company's stock, valued at approximately $581,750.73. The trade was a 83.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,703 shares of company stock worth $15,931,870 over the last 90 days. Corporate insiders own 3.53% of the company's stock.

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.