Gilder Gagnon Howe & Co. LLC Decreases Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Gilder Gagnon Howe & Co. LLC reduced its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 53.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,343 shares of the company's stock after selling 213,626 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned 0.09% of Core & Main worth $9,487,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CNM. Lord Abbett & CO. LLC grew its stake in shares of Core & Main by 20.0% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,078,455 shares of the company's stock valued at $54,904,000 after buying an additional 179,391 shares in the last quarter. Pinebridge Investments L.P. grew its position in shares of Core & Main by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 54,659 shares of the company's stock valued at $2,783,000 after purchasing an additional 16,360 shares during the last quarter. Yaupon Capital Management LP acquired a new position in shares of Core & Main in the 4th quarter valued at $18,725,000. Hsbc Holdings PLC increased its position in shares of Core & Main by 3,802.9% in the fourth quarter. Hsbc Holdings PLC now owns 183,631 shares of the company's stock worth $9,349,000 after acquiring an additional 178,926 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in Core & Main by 6.4% in the 4th quarter. Stifel Financial Corp now owns 8,353 shares of the company's stock valued at $425,000 after buying an additional 504 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Performance

Shares of CNM stock traded up $0.84 during trading hours on Friday, hitting $53.86. The stock had a trading volume of 437,086 shares, compared to its average volume of 2,291,506. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The firm has a market capitalization of $10.66 billion, a PE ratio of 25.31, a PEG ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock's 50 day moving average is $48.97 and its 200 day moving average is $49.90.

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

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, EVP John R. Schaller sold 21,868 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This trade represents a 57.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Bradford A. Cowles sold 25,000 shares of Core & Main stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $872,224.80. This represents a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,045 shares of company stock valued at $5,045,698 over the last three months. 3.49% of the stock is currently owned by insiders.

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.