Mackenzie Financial Corp Cuts Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Mackenzie Financial Corp cut its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 448,802 shares of the company's stock after selling 43,404 shares during the quarter. Mackenzie Financial Corp owned about 0.23% of Core & Main worth $22,849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC grew its stake in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after buying an additional 271 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after buying an additional 278 shares during the last quarter. Blue Trust Inc. grew its stake in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after buying an additional 830 shares during the last quarter. Ancora Advisors LLC purchased a new position in Core & Main during the 4th quarter worth $75,000. Finally, R Squared Ltd purchased a new position in Core & Main during the 4th quarter worth $78,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on CNM. Royal Bank of Canada dropped their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird lowered their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Core & Main has an average rating of "Moderate Buy" and an average price target of $57.91.

Insider Activity

In related news, EVP John R. Schaller sold 9,794 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total value of $538,670.00. Following the completion of the transaction, the executive vice president now owns 19,689 shares of the company's stock, valued at approximately $1,082,895. This represents a 33.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at $207,977.60. The trade was a 91.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,839 shares of company stock valued at $4,222,368 in the last quarter. 3.53% of the stock is currently owned by company insiders.

Core & Main Stock Performance

Shares of CNM stock traded up $0.07 on Friday, hitting $54.80. The company had a trading volume of 2,320,463 shares, compared to its average volume of 2,335,945. The firm has a market cap of $10.84 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04. The company has a 50-day moving average price of $50.97 and a 200-day moving average price of $51.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $58.29.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business's quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. As a group, equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

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.