Handelsbanken Fonder AB Has $119.43 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Handelsbanken Fonder AB lessened its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,472,214 shares of the company's stock after selling 299,400 shares during the period. Handelsbanken Fonder AB owned about 1.25% of Core & Main worth $119,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Parallel Advisors LLC lifted its position in Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after buying an additional 532 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Core & Main by 1,491.8% during the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after acquiring an additional 1,089 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after purchasing an additional 278 shares during the last quarter. Blue Trust Inc. grew its stake in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after purchasing an additional 830 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in Core & Main in the 4th quarter worth about $75,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insider Activity

In other news, insider Laura K. Schneider sold 45,695 shares of Core & Main stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total value of $2,570,343.75. Following the completion of the sale, the insider now directly owns 12,873 shares of the company's stock, valued at approximately $724,106.25. This trade represents a 78.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO John Weldon Stephens sold 10,214 shares of Core & Main stock in a transaction on Monday, April 28th. The stock was sold at an average price of $53.02, for a total value of $541,546.28. Following the sale, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at approximately $218,442.40. This trade represents a 71.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,666 shares of company stock worth $5,768,852. Insiders own 3.53% of the company's stock.

Core & Main Stock Performance

Shares of NYSE:CNM traded down $1.24 during trading on Tuesday, hitting $58.10. 4,738,437 shares of the stock were exchanged, compared to its average volume of 2,293,630. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 27.27, 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 quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $60.38. The company's fifty day simple moving average is $52.04 and its 200-day simple moving average is $51.80.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada reissued an "outperform" rating on shares of Core & Main in a research note on Tuesday. Wells Fargo & Company restated an "overweight" rating on shares of Core & Main in a research note on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Citigroup reiterated a "neutral" rating on shares of Core & Main in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $57.91.

Core & Main Company 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.