Los Angeles Capital Management LLC Sells 464,288 Shares of Core & Main, Inc. (NYSE:CNM)

Los Angeles Capital Management LLC lowered its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 55.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 376,252 shares of the company's stock after selling 464,288 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.17% of Core & Main worth $15,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its position in shares of Core & Main by 51.1% in the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company's stock worth $226,926,000 after purchasing an additional 2,660,097 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Core & Main in the 4th quarter valued at approximately $91,771,000. Handelsbanken Fonder AB increased its stake in Core & Main by 180.1% in the fourth quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company's stock valued at $109,405,000 after purchasing an additional 1,740,685 shares in the last quarter. Vanguard Group Inc. raised its holdings in Core & Main by 14.3% in the third quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company's stock worth $273,812,000 after purchasing an additional 1,187,700 shares during the period. Finally, Artemis Investment Management LLP bought a new position in shares of Core & Main during the fourth quarter worth $43,191,000. Institutional investors and hedge funds own 94.19% of the company's stock.

Insider Buying and Selling at Core & Main

In other news, VP Jeffrey D. Giles sold 40,000 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the transaction, the vice president now directly owns 8,217 shares in the company, valued at approximately $362,698.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark R. Witkowski sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the sale, the chief financial officer now directly owns 23,898 shares of the company's stock, valued at $1,398,271.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jeffrey D. Giles sold 40,000 shares of the stock in a transaction on Monday, February 12th. The shares were 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 owns 8,217 shares in the company, valued at approximately $362,698.38. The disclosure for this sale can be found here. Insiders sold a total of 520,500 shares of company stock worth $25,511,067 over the last quarter. 3.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Loop Capital upped their price objective 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. Citigroup lowered Core & Main from a "buy" rating to a "neutral" rating and raised their price target for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Truist Financial reiterated a "hold" rating and issued a $38.00 price objective on shares of Core & Main in a research report on Wednesday, March 20th. Royal Bank of Canada boosted their price objective 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, JPMorgan Chase & Co. increased their target price on Core & Main from $38.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.08.

Core & Main Stock Up 1.1 %

Shares of NYSE:CNM traded up $0.65 during midday trading on Friday, reaching $58.52. The company had a trading volume of 929,310 shares, compared to its average volume of 1,496,762. Core & Main, Inc. has a 1-year low of $26.08 and a 1-year high of $60.83. The stock has a market cap of $11.78 billion, a PE ratio of 27.22, a P/E/G ratio of 1.79 and a beta of 1.14. 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 business's 50 day moving average price is $54.36 and its 200 day moving average price is $43.53.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting 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 analyst estimates of $1.43 billion. During the same quarter in the previous year, the firm earned $0.31 EPS. The business's quarterly revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Core & Main, Inc. will post 2.59 EPS for the current fiscal 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.