Mackenzie Financial Corp Decreases Position in Core & Main, Inc. (NYSE:CNM)

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

A number of other large investors have also recently made changes to their positions in CNM. PharVision Advisers LLC purchased a new stake in shares of Core & Main during the fourth quarter valued at about $417,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Core & Main by 14.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 786,744 shares of the company's stock valued at $40,053,000 after purchasing an additional 97,005 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Core & Main by 64.5% during the fourth quarter. Woodline Partners LP now owns 310,014 shares of the company's stock worth $15,783,000 after buying an additional 121,538 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Core & Main in the fourth quarter valued at about $392,000. Finally, Vident Advisory LLC acquired a new stake in shares of Core & Main during the fourth quarter valued at about $215,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now directly owns 16,452 shares of the company's stock, valued at $770,282.64. This represents a 57.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO John Weldon Stephens sold 10,214 shares of the 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 completion of the sale, the chief accounting officer now owns 4,120 shares in the company, valued at $218,442.40. This trade represents a 71.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,045 shares of company stock valued at $3,683,698. 3.53% of the stock is currently owned by insiders.

Core & Main Trading Down 0.6%

Shares of CNM stock traded down $0.35 on Wednesday, reaching $54.58. 3,732,896 shares of the stock were exchanged, compared to its average volume of 2,328,010. The stock has a 50 day moving average price of $50.76 and a 200 day moving average price of $50.92. The stock has a market cap of $10.80 billion, a PE ratio of 25.62, a P/E/G ratio of 2.61 and a beta of 1.04. Core & Main, Inc. has a one year low of $37.22 and a one year high of $58.29. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

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

Analyst Ratings Changes

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

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.