Janus Henderson Group PLC Decreases Holdings in Core & Main, Inc. (NYSE:CNM)

Janus Henderson Group PLC trimmed its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,930,896 shares of the company's stock after selling 84,971 shares during the period. Janus Henderson Group PLC owned about 2.48% of Core & Main worth $250,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CNM. Raymond James Financial Inc. bought a new position in shares of Core & Main during the 4th quarter worth approximately $115,555,000. Norges Bank bought a new position in shares of Core & Main during the 4th quarter worth approximately $99,734,000. Impax Asset Management Group plc raised its stake in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after acquiring an additional 1,416,907 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Core & Main by 4,757.9% during the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock worth $57,953,000 after acquiring an additional 1,114,913 shares in the last quarter. Finally, First Trust Advisors LP raised 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 in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In related news, CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at approximately $207,977.60. This represents a 91.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 16,452 shares in the company, valued at $770,282.64. This trade represents a 57.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,045 shares of company stock worth $3,683,698 over the last 90 days. 3.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CNM. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Robert W. Baird cut their price target on shares of 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 cut their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. 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 note 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's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

Core & Main Stock Performance

Shares of NYSE:CNM traded down $0.29 during midday trading on Thursday, reaching $52.69. The company's stock had a trading volume of 2,253,299 shares, compared to its average volume of 2,309,551. The firm has a market capitalization of $10.43 billion, a PE ratio of 24.74, a P/E/G ratio of 2.61 and a beta of 1.04. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The stock has a fifty day moving average of $49.58 and a 200 day moving average of $50.32. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share 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 analyst estimates of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 EPS. On average, equities analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

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.