Nomura Holdings Inc. Lowers Holdings in Core & Main, Inc. (NYSE:CNM)

Nomura Holdings Inc. trimmed its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 49.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,562 shares of the company's stock after selling 24,938 shares during the period. Nomura Holdings Inc.'s holdings in Core & Main were worth $1,301,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Avior Wealth Management LLC increased its holdings in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after purchasing an additional 271 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after buying an additional 684 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after buying an additional 278 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after buying an additional 830 shares during the period. Finally, Ancora Advisors LLC acquired a new position in Core & Main during the 4th quarter worth about $75,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CNM. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. Royal Bank of Canada reduced their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company boosted their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird cut their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Core & Main has a consensus rating of "Moderate Buy" and an average target price of $57.55.

Core & Main Stock Down 0.7%

Shares of NYSE:CNM traded down $0.37 during trading hours on Friday, reaching $52.86. The stock had a trading volume of 148,995 shares, compared to its average volume of 2,308,943. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $60.69. The firm's 50 day moving average is $50.32 and its 200-day moving average is $50.68. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 2.61 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

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

Insider Activity

In other Core & Main news, CAO John Weldon Stephens sold 10,214 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the completion of the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at $218,442.40. This represents a 71.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the transaction, the executive vice president now directly owns 16,452 shares in the company, valued at approximately $770,282.64. The trade was a 57.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,045 shares of company stock worth $3,683,698. 3.49% of the stock is currently owned by 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.