Hsbc Holdings PLC Buys 178,926 Shares of Core & Main, Inc. (NYSE:CNM)

Hsbc Holdings PLC raised its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 3,802.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,631 shares of the company's stock after purchasing an additional 178,926 shares during the period. Hsbc Holdings PLC owned 0.09% of Core & Main worth $9,349,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Stifel Financial Corp boosted its holdings 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 purchasing an additional 504 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Core & Main by 124.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,652 shares of the company's stock valued at $746,000 after buying an additional 8,133 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of Core & Main by 1.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 53,900 shares of the company's stock valued at $2,744,000 after buying an additional 600 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of Core & Main by 8.3% during the 4th quarter. MetLife Investment Management LLC now owns 114,136 shares of the company's stock valued at $5,811,000 after buying an additional 8,709 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Core & Main by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,988,042 shares of the company's stock valued at $101,209,000 after buying an additional 133,065 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP John R. Schaller sold 21,868 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares of the company's stock, valued at approximately $770,282.64. This represents a 57.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John Weldon Stephens sold 41,963 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at approximately $207,977.60. This trade represents a 91.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,045 shares of company stock worth $5,045,698. 3.49% of the stock is currently owned by company insiders.

Core & Main Trading Up 0.6 %

CNM stock traded up $0.34 during trading on Thursday, hitting $53.02. 1,162,632 shares of the company traded hands, compared to its average volume of 2,295,830. The firm has a market capitalization of $10.49 billion, a PE ratio of 24.89, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a 50-day moving average of $48.91 and a 200-day moving average of $49.84. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Royal Bank of Canada lowered their price objective on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Citigroup raised their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research 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 issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.55.

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.