Core & Main, Inc. (NYSE:CNM) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,133,291 shares of the company's stock after selling 5,055 shares during the quarter. Federated Hermes Inc. owned 0.57% of Core & Main worth $54,749,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Mackenzie Financial Corp grew its position in Core & Main by 39.6% in the first quarter. Mackenzie Financial Corp now owns 626,340 shares of the company's stock valued at $30,258,000 after acquiring an additional 177,538 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Core & Main by 2.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,453,304 shares of the company's stock valued at $70,209,000 after buying an additional 28,089 shares during the last quarter. HB Wealth Management LLC purchased a new position in Core & Main during the 1st quarter worth $227,000. KLP Kapitalforvaltning AS lifted its holdings in Core & Main by 1.5% during the first quarter. KLP Kapitalforvaltning AS now owns 39,600 shares of the company's stock worth $1,913,000 after acquiring an additional 600 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Core & Main in the 1st quarter worth approximately $1,119,000. 94.19% of the stock is owned by institutional investors.

Insider Transactions 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 that occurred on 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 $581,750.73. This represents a 83.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laura K. Schneider sold 45,695 shares of the firm's stock in a transaction on 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 owned 12,873 shares of the company's stock, valued at $724,106.25. The trade was a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 428,445 shares of company stock worth $26,045,755. Company insiders own 3.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CNM shares. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Wells Fargo & Company upped their target price on shares of Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Loop Capital restated a "hold" rating and set a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Citigroup raised their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Finally, Royal Bank Of Canada lifted their target price on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.00.

Core & Main Stock Performance

CNM traded up $1.01 during trading hours on Monday, reaching $63.69. The company's stock had a trading volume of 406,672 shares, compared to its average volume of 1,985,996. The company's 50-day moving average is $59.94 and its 200-day moving average is $54.37. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $65.97. The firm has a market cap of $12.56 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 1.85 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current 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.