Peregrine Capital Management LLC Has $10.87 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Peregrine Capital Management LLC lifted its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 224,904 shares of the company's stock after acquiring an additional 6,513 shares during the quarter. Peregrine Capital Management LLC owned about 0.11% of Core & Main worth $10,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNM. Charles Schwab Investment Management Inc. raised its stake in shares of Core & Main by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after buying an additional 122,240 shares in the last quarter. Perpetual Ltd lifted its holdings in Core & Main by 12.4% in the 1st quarter. Perpetual Ltd now owns 223,671 shares of the company's stock valued at $10,806,000 after acquiring an additional 24,610 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in Core & Main by 109.6% in the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after acquiring an additional 936,863 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Core & Main by 4,757.9% during the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock valued at $57,953,000 after purchasing an additional 1,114,913 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Core & Main by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after purchasing an additional 221,970 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Up 0.8%

Core & Main stock traded up $0.49 during mid-day trading on Thursday, hitting $62.33. 1,039,715 shares of the company's stock were exchanged, compared to its average volume of 2,278,860. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.45. The stock has a 50 day moving average of $55.46 and a two-hundred day moving average of $52.60. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The stock has a market cap of $12.29 billion, a P/E ratio of 28.99, a P/E/G ratio of 1.81 and a beta of 1.04.

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

Insider Activity

In related news, EVP John R. Schaller sold 9,794 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total value of $538,670.00. Following the transaction, the executive vice president directly owned 19,689 shares in the company, valued at approximately $1,082,895. This trade represents a 33.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $60.03, for a total value of $2,947,473.00. Following the transaction, the general counsel directly owned 9,691 shares of the company's stock, valued at $581,750.73. This represents a 83.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,703 shares of company stock worth $6,652,060. 3.53% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CNM shares. Robert W. Baird dropped their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Loop Capital lifted their price target on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a research note on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Royal Bank Of Canada lifted their target price on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.55.

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.