MetLife Investment Management LLC Boosts Stake in Core & Main, Inc. (NYSE:CNM)

MetLife Investment Management LLC boosted its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,136 shares of the company's stock after purchasing an additional 8,709 shares during the period. MetLife Investment Management LLC owned about 0.06% of Core & Main worth $5,811,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake 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. First Trust Advisors LP lifted its holdings in shares of Core & Main by 38.4% in the fourth quarter. First Trust Advisors LP now owns 3,328,182 shares of the company's stock worth $169,438,000 after buying an additional 923,287 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Core & Main in the fourth quarter worth about $148,000. Marshall Wace LLP purchased a new position in Core & Main during the fourth quarter valued at approximately $2,719,000. Finally, Forest Avenue Capital Management LP increased its holdings in shares of Core & Main by 10.5% in the fourth quarter. Forest Avenue Capital Management LP now owns 1,240,111 shares of the company's stock worth $63,134,000 after purchasing an additional 117,860 shares during the period. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Down 0.5 %

CNM stock traded down $0.25 during midday trading on Tuesday, hitting $52.61. The company's stock had a trading volume of 194,450 shares, compared to its average volume of 2,291,197. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The firm's 50-day moving average is $48.86 and its 200-day moving average is $49.80. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a market cap of $10.41 billion, a PE ratio of 24.69, a P/E/G ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results 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 company had revenue of $1.70 billion for 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%. Core & Main's quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. On average, equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO John Weldon Stephens sold 41,963 shares of the firm's 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 completion of 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 ownership of the stock. 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 dated 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 sale, the president now directly owns 16,010 shares in the company, valued at $872,224.80. This trade represents a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,831 shares of company stock valued at $4,504,152. 3.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CNM has been the subject of several recent analyst reports. Citigroup boosted their target price on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective for the company. Robert W. Baird decreased their price objective 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 boosted their target price on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada lowered their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and a consensus 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.