Core & Main, Inc. (NYSE:CNM) Position Lessened by Impax Asset Management Group plc

Impax Asset Management Group plc trimmed its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,208,041 shares of the company's stock after selling 222,746 shares during the period. Impax Asset Management Group plc owned 1.62% of Core & Main worth $154,980,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CNM. Teacher Retirement System of Texas increased its position in Core & Main by 7.7% during the first quarter. Teacher Retirement System of Texas now owns 54,578 shares of the company's stock worth $2,637,000 after purchasing an additional 3,908 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Core & Main during the 1st quarter worth $37,000. Summit Trail Advisors LLC raised its position in shares of Core & Main by 23.8% in the 1st quarter. Summit Trail Advisors LLC now owns 11,993 shares of the company's stock worth $579,000 after buying an additional 2,303 shares during the period. Peregrine Capital Management LLC raised its position in shares of Core & Main by 3.0% in the 1st quarter. Peregrine Capital Management LLC now owns 224,904 shares of the company's stock worth $10,865,000 after buying an additional 6,513 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in Core & Main by 53.7% in the first quarter. New York State Teachers Retirement System now owns 86,679 shares of the company's stock valued at $4,187,000 after acquiring an additional 30,286 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 sale, the general counsel owned 9,691 shares in the company, valued at $581,750.73. This represents a 83.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Laura K. Schneider sold 45,695 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider owned 12,873 shares of the company's stock, valued at $724,106.25. This trade represents a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 140,703 shares of company stock worth $8,164,310 over the last 90 days. Company insiders own 3.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price objective on Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Citigroup raised their price target 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. Robert W. Baird cut their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Loop Capital raised their price target 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 lifted 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 assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.55.

Core & Main Stock Up 0.8%

Shares of NYSE CNM traded up $0.49 during midday trading on Friday, reaching $62.33. 1,039,715 shares of the company's stock were exchanged, compared to its average volume of 2,287,023. 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, Inc. has a 52-week low of $37.22 and a 52-week high of $62.47. The business's fifty day moving average price is $55.86 and its two-hundred day moving average price is $52.73. The stock has a market capitalization of $12.29 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly 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 for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company's revenue was up 9.8% compared to the same quarter last year. 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.