SG Americas Securities LLC Acquires Shares of 78,774 Core & Main, Inc. (NYSE:CNM)

SG Americas Securities LLC bought a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 78,774 shares of the company's stock, valued at approximately $3,806,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Core & Main by 1.2% during 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 in the last quarter. FMR LLC increased its position in Core & Main by 4.1% during the 4th quarter. FMR LLC now owns 9,055,993 shares of the company's stock worth $461,041,000 after buying an additional 358,909 shares during the period. Invesco Ltd. increased its position in Core & Main by 0.8% during the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company's stock worth $301,722,000 after buying an additional 44,513 shares during the period. Bessemer Group Inc. increased its position in shares of Core & Main by 0.5% in the fourth quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company's stock worth $195,250,000 after purchasing an additional 20,756 shares during the period. Finally, Royal London Asset Management Ltd. increased its holdings in Core & Main by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock valued at $194,005,000 after buying an additional 48,833 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Wells Fargo & Company raised their target price on shares of Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, June 10th. Citigroup raised their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. Robert W. Baird decreased their target price 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. Finally, Loop Capital lifted 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 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $59.55.

Core & Main Price Performance

Core & Main stock traded up $0.06 during midday trading on Monday, reaching $56.18. The company's stock had a trading volume of 835,113 shares, compared to its average volume of 2,288,180. The stock has a market cap of $11.12 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The business has a 50-day moving average price of $52.95 and a 200-day moving average price of $52.08. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $60.38.

Core & Main (NYSE:CNM - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting analysts' consensus estimates of $0.52. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the firm posted $0.49 EPS. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict 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 company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the transaction, the general counsel now directly owns 9,691 shares of the company's stock, valued at $581,750.73. This represents a 83.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Laura K. Schneider sold 45,695 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the sale, the insider now owns 12,873 shares of the company's stock, valued at approximately $724,106.25. The trade was a 78.02% 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 ninety days. 3.53% of the stock is owned by company insiders.

Core & Main 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.