Core & Main, Inc. (NYSE:CNM) Shares Bought by Perpetual Ltd

Perpetual Ltd increased its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 12.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 223,671 shares of the company's stock after buying an additional 24,610 shares during the period. Perpetual Ltd owned 0.11% of Core & Main worth $10,806,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CNM. Sanctuary Advisors LLC purchased a new position in Core & Main during the fourth quarter worth approximately $201,000. New York State Common Retirement Fund raised its stake in shares of Core & Main by 16.5% during the 4th quarter. New York State Common Retirement Fund now owns 115,384 shares of the company's stock worth $5,874,000 after buying an additional 16,370 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Core & Main during the 4th quarter valued at approximately $778,000. US Bancorp DE lifted its position in shares of Core & Main by 12.3% during the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock valued at $91,000 after buying an additional 197 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Core & Main in the 4th quarter valued at $122,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target for the company. Wells Fargo & Company lifted their price objective on Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Royal Bank Of Canada boosted their price objective on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 10th. Finally, Loop Capital raised their target price on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, June 11th. 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 MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.55.

Core & Main Price Performance

CNM traded up $0.90 during trading on Tuesday, reaching $61.25. The company's stock had a trading volume of 2,574,314 shares, compared to its average volume of 2,284,186. The company has a market cap of $12.07 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 1.78 and a beta of 1.04. The firm has a fifty day simple moving average of $55.24 and a two-hundred day simple moving average of $52.53. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $61.67. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The firm had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The business's revenue for the quarter 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 year.

Insider Buying and Selling

In other news, General Counsel Mark G. Whittenburg sold 49,100 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the transaction, the general counsel owned 9,691 shares of the company's stock, valued at approximately $581,750.73. The trade was a 83.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John R. Schaller sold 9,794 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total transaction of $538,670.00. Following the completion of the sale, the executive vice president directly owned 19,689 shares of the company's stock, valued at $1,082,895. This represents a 33.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 157,666 shares of company stock valued at $8,770,352 over the last 90 days. Insiders own 3.53% of the company's stock.

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.