Vaughan Nelson Investment Management L.P. Increases Stake in Core & Main, Inc. (NYSE:CNM)

Vaughan Nelson Investment Management L.P. increased its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,734,897 shares of the company's stock after purchasing an additional 73,790 shares during the period. Vaughan Nelson Investment Management L.P. owned 0.80% of Core & Main worth $70,107,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Core & Main during the third quarter worth approximately $28,000. Harbor Investment Advisory LLC bought a new stake in shares of Core & Main during the third quarter worth approximately $33,000. Money Concepts Capital Corp bought a new stake in shares of Core & Main during the fourth quarter worth approximately $39,000. Kepos Capital LP bought a new stake in shares of Core & Main during the third quarter worth approximately $41,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Core & Main in the second quarter valued at approximately $43,000. Institutional investors own 94.19% of the company's stock.

Core & Main Price Performance

CNM traded up $1.40 during trading on Friday, hitting $59.25. 1,853,184 shares of the stock traded hands, compared to its average volume of 3,069,639. Core & Main, Inc. has a twelve month low of $21.75 and a twelve month high of $60.83. The company has a market cap of $11.93 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.87 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The business has a 50 day moving average price of $49.16 and a 200 day moving average price of $39.88.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company's revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. Equities research analysts forecast that Core & Main, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Transactions at Core & Main

In other news, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the company's stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $38.12, for a total transaction of $864,398,751.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Jeffrey D. Giles sold 40,000 shares of the business's stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $40.64, for a total value of $1,625,600.00. Following the sale, the vice president now owns 8,217 shares of the company's stock, valued at $333,938.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Cd&R Investment Associates X, sold 22,675,728 shares of the business's stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $38.12, for a total transaction of $864,398,751.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,334,043 shares of company stock worth $1,836,262,410. Corporate insiders own 3.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CNM shares. Citigroup downgraded shares of Core & Main from a "buy" rating to a "neutral" rating and lifted their price target for the company from $63.00 to $64.00 in a research report on Friday. Truist Financial reiterated a "hold" rating and issued a $38.00 price target on shares of Core & Main in a research report on Wednesday, March 20th. The Goldman Sachs Group lifted their price target on shares of Core & Main from $42.00 to $61.00 and gave the company a "neutral" rating in a research report on Tuesday, March 26th. Royal Bank of Canada lifted their price target on shares of Core & Main from $59.00 to $60.00 and gave the company an "outperform" rating in a research report on Wednesday, March 20th. Finally, Loop Capital lifted their price target on shares of Core & Main from $58.00 to $64.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and a consensus price target of $50.08.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.