Franklin Resources Inc. Decreases Holdings in Core & Main, Inc. (NYSE:CNM)

Franklin Resources Inc. lessened its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 96.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,637 shares of the company's stock after selling 182,014 shares during the period. Franklin Resources Inc.'s holdings in Core & Main were worth $389,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CNM. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the 3rd quarter valued at about $49,000. Retirement Systems of Alabama boosted its stake in Core & Main by 10.1% in the third quarter. Retirement Systems of Alabama now owns 254,759 shares of the company's stock valued at $11,311,000 after acquiring an additional 23,277 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Core & Main in the third quarter valued at approximately $774,000. Lord Abbett & CO. LLC raised its holdings in shares of Core & Main by 6.9% in the third quarter. Lord Abbett & CO. LLC now owns 899,064 shares of the company's stock worth $39,919,000 after buying an additional 58,365 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Core & Main by 14.0% during the third quarter. JPMorgan Chase & Co. now owns 2,839,399 shares of the company's stock worth $126,069,000 after purchasing an additional 349,674 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Insider Transactions at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company's stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at $207,977.60. The trade was a 91.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,831 shares of company stock worth $4,504,152. 3.49% of the stock is owned by insiders.

Core & Main Stock Performance

Shares of CNM stock traded up $2.05 during trading hours on Wednesday, reaching $51.74. 181,963 shares of the company's stock were exchanged, compared to its average volume of 2,290,115. The business has a fifty day moving average price of $49.02 and a 200-day moving average price of $49.51. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $10.24 billion, a P/E ratio of 24.29, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the business posted $0.34 EPS. Core & Main's quarterly revenue was up 17.9% on a year-over-year basis. Analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CNM. Royal Bank of Canada cut their price target on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Citigroup raised their price target on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Robert W. Baird cut their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company upped their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.55.

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.