River Road Asset Management LLC Sells 408,512 Shares of Core & Main, Inc. (NYSE:CNM)

River Road Asset Management LLC reduced its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 74.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 136,703 shares of the company's stock after selling 408,512 shares during the period. River Road Asset Management LLC owned 0.06% of Core & Main worth $5,524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CNM. Renaissance Capital LLC grew its position in Core & Main by 59.0% during the 4th quarter. Renaissance Capital LLC now owns 85,574 shares of the company's stock worth $3,458,000 after purchasing an additional 31,740 shares during the last quarter. State of Michigan Retirement System acquired a new position in Core & Main in the 4th quarter valued at about $1,325,000. Exchange Traded Concepts LLC raised its stake in Core & Main by 328.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company's stock valued at $3,186,000 after acquiring an additional 60,435 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Core & Main by 4.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company's stock worth $70,107,000 after acquiring an additional 73,790 shares during the period. Finally, New York State Teachers Retirement System purchased a new position in shares of Core & Main in the 4th quarter valued at approximately $1,805,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Core & Main

In other news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the business's stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the firm's stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $40.98, for a total transaction of $938,762,258.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the sale, the chief financial officer now owns 23,898 shares of the company's stock, valued at $1,398,271.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,363,315 shares of company stock worth $960,746,759. 3.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CNM has been the subject of several analyst reports. Truist Financial restated a "hold" rating and set a $38.00 price target on shares of Core & Main in a research note on Wednesday, March 20th. Royal Bank of Canada boosted their price target on shares of Core & Main from $59.00 to $60.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 20th. Loop Capital increased their price target on shares of Core & Main from $58.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on Core & Main from $42.00 to $61.00 and gave the company a "neutral" rating in a report on Tuesday, March 26th. Finally, Citigroup downgraded Core & Main from a "buy" rating to a "neutral" rating and increased their target price for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.08.

Core & Main Price Performance

Shares of NYSE:CNM traded down $0.19 during midday trading on Thursday, hitting $54.58. 1,322,069 shares of the stock were exchanged, compared to its average volume of 2,935,734. The stock has a market cap of $10.99 billion, a P/E ratio of 25.46, a PEG ratio of 1.71 and a beta of 1.15. Core & Main, Inc. has a twelve month low of $24.83 and a twelve month high of $60.83. The company has a 50 day moving average price of $51.50 and a 200-day moving average price of $41.44. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts forecast that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Core & Main 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.