Price T Rowe Associates Inc. MD Decreases Position in Core & Main, Inc. (NYSE:CNM)

Price T Rowe Associates Inc. MD reduced its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 31.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 444,019 shares of the company's stock after selling 202,247 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.22% of Core & Main worth $22,606,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its holdings in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the 3rd quarter valued at $49,000. UMB Bank n.a. lifted its holdings in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock valued at $49,000 after purchasing an additional 684 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after buying an additional 278 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after buying an additional 830 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Wall Street Analyst Weigh In

CNM has been the subject of a number of recent analyst reports. Citigroup lifted their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. Royal Bank of Canada reduced their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Robert W. Baird reduced their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

Insider Buying and Selling

In other news, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the sale, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at approximately $207,977.60. The trade was a 91.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Bradford A. Cowles sold 25,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the transaction, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. This represents a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,045 shares of company stock worth $5,045,698. 3.49% of the stock is owned by corporate insiders.

Core & Main Price Performance

Shares of NYSE:CNM traded down $0.50 during trading on Monday, reaching $53.38. The stock had a trading volume of 1,220,340 shares, compared to its average volume of 2,299,463. The business has a fifty day moving average price of $49.05 and a 200-day moving average price of $50.01. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The stock has a market cap of $10.56 billion, a PE ratio of 25.06, a PEG ratio of 2.61 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same period in the previous year, the company earned $0.34 EPS. Core & Main's quarterly revenue was up 17.9% compared to the same quarter last year. On average, equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Core & Main Company Profile

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.