Zurcher Kantonalbank Zurich Cantonalbank Buys 82,126 Shares of Core & Main, Inc. (NYSE:CNM)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 25.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 407,297 shares of the company's stock after purchasing an additional 82,126 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.19% of Core & Main worth $16,459,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brown Advisory Inc. raised its position in Core & Main by 6.7% during the third quarter. Brown Advisory Inc. now owns 8,456 shares of the company's stock valued at $244,000 after purchasing an additional 532 shares in the last quarter. Citigroup Inc. increased its stake in shares of Core & Main by 3.3% in the 2nd quarter. Citigroup Inc. now owns 19,704 shares of the company's stock valued at $618,000 after purchasing an additional 631 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Core & Main by 3.8% during the 2nd quarter. Captrust Financial Advisors now owns 19,074 shares of the company's stock worth $425,000 after buying an additional 703 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Core & Main by 81.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company's stock worth $50,000 after buying an additional 775 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Core & Main by 3.5% during the 3rd quarter. Alliancebernstein L.P. now owns 23,527 shares of the company's stock worth $535,000 after buying an additional 795 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Price Performance

NYSE:CNM traded down $0.42 during mid-day trading on Friday, hitting $54.17. 1,497,742 shares of the stock traded hands, compared to its average volume of 2,916,813. Core & Main, Inc. has a 12-month low of $25.08 and a 12-month high of $60.83. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The company has a market cap of $10.91 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The business's 50-day moving average price is $51.74 and its 200 day moving average price is $41.54.

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

Insider Buying and Selling at Core & Main

In other news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $40.98, for a total value of $938,762,258.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related 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 stock was sold at an average price of $40.98, for a total transaction of $938,762,258.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jeffrey D. Giles sold 40,000 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $44.14, for a total value of $1,765,600.00. Following the completion of the sale, the vice president now directly owns 8,217 shares of the company's stock, valued at approximately $362,698.38. The disclosure for this sale can be found here. Insiders sold a total of 23,363,315 shares of company stock worth $960,746,759 over the last three months. 3.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CNM has been the topic of a number of research analyst reports. Barclays raised their price target on shares of Core & Main from $49.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, March 20th. Truist Financial reissued a "hold" rating and issued a $38.00 price objective on shares of Core & Main in a research note on Wednesday, March 20th. Royal Bank of Canada boosted their target price 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 Core & Main from $58.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. Finally, Citigroup downgraded Core & Main from a "buy" rating to a "neutral" rating and increased their price objective for the company from $63.00 to $64.00 in a report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.08.

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.