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

Impax Asset Management Group plc trimmed its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 6.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,208,041 shares of the company's stock after selling 222,746 shares during the quarter. Impax Asset Management Group plc owned 1.62% of Core & Main worth $154,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CNM. Parallel Advisors LLC lifted its holdings in shares of Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after buying an additional 532 shares during the period. Rossby Financial LCC bought a new position in shares of Core & Main during the 1st quarter valued at $37,000. Versant Capital Management Inc raised its holdings in Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after purchasing an additional 1,089 shares during the period. Quadrant Capital Group LLC raised its holdings in Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after purchasing an additional 278 shares during the period. Finally, Ancora Advisors LLC bought a new position in Core & Main in the 4th quarter worth $75,000. 94.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Stephen O. Leclair sold 80,028 shares of Core & Main stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $62.27, for a total value of $4,983,343.56. Following the completion of the transaction, the insider owned 70,736 shares in the company, valued at approximately $4,404,730.72. This trade represents a 53.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robyn L. Bradbury sold 25,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief financial officer owned 8,555 shares of the company's stock, valued at $517,491.95. This trade represents a 74.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 265,703 shares of company stock valued at $15,931,870 in the last quarter. 3.53% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CNM has been the topic of a number of recent research reports. Wells Fargo & Company raised their target price on Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday. Citigroup raised their target price on Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Robert W. Baird decreased their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. raised their target price on 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 raised their target price on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $60.00.

Core & Main Price Performance

Shares of Core & Main stock traded up $0.46 during trading on Tuesday, reaching $62.38. 1,342,978 shares of the stock traded hands, compared to its average volume of 2,282,702. The company has a market capitalization of $12.30 billion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 1.83 and a beta of 1.04. The business has a fifty day simple moving average of $56.22 and a two-hundred day simple moving average of $52.91. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.70.

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. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The firm's revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. Sell-side analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

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.