Perpetual Ltd Grows Position in Core & Main, Inc. (NYSE:CNM)

Perpetual Ltd grew its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 12.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,671 shares of the company's stock after purchasing an additional 24,610 shares during the quarter. Perpetual Ltd owned about 0.11% of Core & Main worth $10,806,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after buying an additional 532 shares in the last quarter. Versant Capital Management Inc raised its holdings in Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after acquiring an additional 1,089 shares during the period. Quadrant Capital Group LLC raised its holdings in Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after acquiring an additional 278 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Core & Main during the fourth quarter worth $75,000. Finally, US Bancorp DE boosted its holdings in shares of Core & Main by 12.3% in the fourth quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after acquiring an additional 197 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Stock Up 1.7%

CNM stock opened at $60.31 on Friday. The company's 50 day moving average is $54.76 and its 200 day moving average is $52.42. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 28.05, a price-to-earnings-growth ratio of 1.75 and a beta of 1.02. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $60.40.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting analysts' consensus estimates of $0.52. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. Sell-side analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity at Core & Main

In other news, insider Laura K. Schneider sold 45,695 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total value of $2,570,343.75. Following the completion of the sale, the insider now directly owns 12,873 shares in the company, valued at approximately $724,106.25. The trade was a 78.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 900 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $60.03, for a total transaction of $54,027.00. Following the transaction, the general counsel now directly owns 9,691 shares in the company, valued at approximately $581,750.73. This represents a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 157,666 shares of company stock valued at $8,770,352 over the last 90 days. 3.53% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada upped their price target on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Robert W. Baird lowered their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. boosted their price objective on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Finally, Loop Capital upped their target price on shares of Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $59.55.

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.

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