Madison Asset Management LLC Trims Stock Position in Core & Main, Inc. (NYSE:CNM)

Madison Asset Management LLC cut its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 12.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,648 shares of the company's stock after selling 20,430 shares during the quarter. Madison Asset Management LLC owned 0.07% of Core & Main worth $6,746,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after acquiring an additional 532 shares in the last quarter. Rossby Financial LCC purchased a new position in shares of Core & Main during the first quarter worth approximately $37,000. CWM LLC raised its stake in shares of Core & Main by 34.0% during the first quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after acquiring an additional 213 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Core & Main by 1,491.8% during the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after acquiring an additional 1,089 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after acquiring an additional 278 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Up 0.9%

Shares of CNM stock traded up $0.56 during mid-day trading on Friday, reaching $65.73. 1,535,613 shares of the company's stock traded hands, compared to its average volume of 1,800,000. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $65.94. The company has a market cap of $12.96 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.94 and a beta of 1.04. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. The company's 50-day moving average price is $58.82 and its 200-day moving average price is $53.95.

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

Wall Street Analyst Weigh In

Several research analysts have commented on CNM shares. Wells Fargo & Company lifted their price target on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Citigroup lifted their target price on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. JPMorgan Chase & Co. lifted their target price on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Loop Capital lifted their target price on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.00.

Insider Buying and Selling at Core & Main

In other Core & Main news, insider Stephen O. Leclair sold 80,028 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $62.27, for a total transaction of $4,983,343.56. Following the transaction, the insider owned 70,736 shares in the company, valued at approximately $4,404,730.72. This represents a 53.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura K. Schneider sold 45,695 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the transaction, the insider owned 12,873 shares in the company, valued at $724,106.25. This represents a 78.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 438,659 shares of company stock worth $26,587,301. 3.53% of the stock is owned by company insiders.

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.