Invesco Ltd. Sells 1,251,277 Shares of Core & Main, Inc. $CNM

Invesco Ltd. trimmed its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,675,292 shares of the company's stock after selling 1,251,277 shares during the period. Invesco Ltd. owned about 2.36% of Core & Main worth $225,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNM. CWM LLC raised its stake in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after buying an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Core & Main by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after buying an additional 229 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Core & Main by 2.6% in the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock worth $527,000 after buying an additional 272 shares in the last quarter. State of Alaska Department of Revenue raised 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 worth $1,076,000 after buying an additional 330 shares in the last quarter. Finally, Xponance Inc. raised its stake in Core & Main by 1.1% in the first quarter. Xponance Inc. now owns 33,523 shares of the company's stock worth $1,619,000 after buying an additional 363 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total value of $322,550.00. Following the sale, the chief financial officer owned 8,555 shares in the company, valued at approximately $551,883.05. This trade represents a 36.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Stephen O. Leclair sold 44,972 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $61.91, for a total transaction of $2,784,216.52. Following the completion of the sale, the insider owned 70,736 shares in the company, valued at $4,379,265.76. This represents a 38.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 428,445 shares of company stock valued at $26,045,755 in the last ninety days. Corporate insiders own 3.53% of the company's stock.

Core & Main Stock Down 0.2%

Shares of NYSE:CNM traded down $0.15 during trading on Monday, reaching $63.98. 517,941 shares of the stock traded hands, compared to its average volume of 1,970,882. The stock has a 50-day moving average of $61.54 and a two-hundred day moving average of $54.92. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $65.97. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. The stock has a market cap of $12.61 billion, a P/E ratio of 29.76, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting analysts' consensus estimates of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the prior year, the company posted $0.49 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on CNM. Royal Bank Of Canada increased their price target on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Wells Fargo & Company raised 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. JPMorgan Chase & Co. raised their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Loop Capital reaffirmed a "hold" rating and set a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Finally, 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 research note on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $60.00.

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.