Royal London Asset Management Ltd. Acquires 632,077 Shares of Core & Main, Inc. $CNM

Royal London Asset Management Ltd. boosted its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 12.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,688,595 shares of the company's stock after purchasing an additional 632,077 shares during the quarter. Core & Main comprises about 0.6% of Royal London Asset Management Ltd.'s holdings, making the stock its 21st biggest holding. Royal London Asset Management Ltd. owned 2.91% of Core & Main worth $295,636,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNM. Cubist Systematic Strategies LLC boosted its holdings in shares of Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after acquiring an additional 524 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Core & Main during the 1st quarter valued at about $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Core & Main by 36.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company's stock valued at $1,719,000 after acquiring an additional 9,534 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company's stock valued at $14,106,000 after acquiring an additional 54,854 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company's stock valued at $27,000 after acquiring an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insider Activity at Core & Main

In related news, Director James D. Hope acquired 1,972 shares of Core & Main stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director directly owned 6,939 shares in the company, valued at approximately $351,807.30. This represents a 39.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of Core & Main stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the sale, the chief financial officer owned 12,500 shares in the company, valued at approximately $656,750. The trade was a 28.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.51% of the company's stock.

Core & Main Price Performance

NYSE CNM opened at $48.12 on Friday. Core & Main, Inc. has a 12 month low of $43.96 and a 12 month high of $67.18. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.80 and a beta of 0.91. The company's 50 day moving average is $49.79 and its two-hundred day moving average is $52.08. The company has a current ratio of 2.31, a quick ratio of 1.51 and a debt-to-equity ratio of 1.00.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Wednesday, June 10th. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.19. The company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. Core & Main had a net margin of 5.87% and a return on equity of 26.17%. The firm's revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. As a group, research analysts anticipate that Core & Main, Inc. will post 3.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $24.00 price objective on shares of Core & Main in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Core & Main from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Citigroup dropped their price objective on shares of Core & Main from $54.00 to $53.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Barclays dropped their price objective on shares of Core & Main from $63.00 to $62.00 and set an "overweight" rating on the stock in a report on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.73.

About Core & Main

Core & Main, Inc NYSE: CNM is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company's product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.

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