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

SG Americas Securities LLC acquired a new position in Core & Main, Inc. (NYSE:CNM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 78,774 shares of the company's stock, valued at approximately $3,806,000.

A number of other large investors have also recently made changes to their positions in CNM. Raymond James Financial Inc. purchased a new stake in Core & Main in the 4th quarter worth about $115,555,000. Norges Bank bought a new position in shares of Core & Main during the fourth quarter valued at approximately $99,734,000. Impax Asset Management Group plc raised its holdings in shares of Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after buying an additional 1,416,907 shares during the period. Federated Hermes Inc. raised its holdings in shares of Core & Main by 4,757.9% in the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock worth $57,953,000 after buying an additional 1,114,913 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Core & Main by 38.4% during the 4th quarter. First Trust Advisors LP now owns 3,328,182 shares of the company's stock worth $169,438,000 after acquiring an additional 923,287 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CNM shares. Wells Fargo & Company raised their target price on shares of Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective on the stock. Citigroup lifted their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. Royal Bank Of Canada increased their price target on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Finally, Loop Capital raised their price target on Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.55.

Insiders Place Their Bets

In related news, CAO John Weldon Stephens sold 10,214 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the completion of the sale, the chief accounting officer now owns 4,120 shares in the company, valued at $218,442.40. This trade represents a 71.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark G. Whittenburg sold 900 shares of Core & Main stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.03, for a total value of $54,027.00. Following the transaction, the general counsel now owns 9,691 shares of the company's stock, valued at $581,750.73. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,666 shares of company stock worth $8,770,352. 3.53% of the stock is owned by insiders.

Core & Main Stock Performance

Shares of CNM stock traded down $0.39 during mid-day trading on Tuesday, hitting $55.61. 1,695,508 shares of the stock were exchanged, compared to its average volume of 2,293,306. The stock's fifty day simple moving average is $53.31 and its two-hundred day simple moving average is $52.15. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $60.38. The stock has a market capitalization of $11.00 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 1.65 and a beta of 1.02.

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

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.