Russell Investments Group Ltd. Sells 5,615 Shares of Core & Main, Inc. (NYSE:CNM)

Russell Investments Group Ltd. cut its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,467 shares of the company's stock after selling 5,615 shares during the period. Russell Investments Group Ltd.'s holdings in Core & Main were worth $1,806,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in shares of Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock valued at $84,855,000 after acquiring an additional 122,240 shares in the last quarter. Impax Asset Management Group plc grew its position in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $174,661,000 after acquiring an additional 1,416,907 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Core & Main during the 3rd quarter valued at $774,000. Vanguard Group Inc. boosted its holdings in Core & Main by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock worth $927,580,000 after buying an additional 221,970 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Core & Main by 13.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock worth $3,331,000 after acquiring an additional 7,565 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In other news, President Bradford A. Cowles sold 25,000 shares of the company's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the transaction, the president now owns 16,010 shares in the company, valued at $872,224.80. This represents a 60.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John R. Schaller sold 21,868 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares in the company, valued at $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,831 shares of company stock valued at $4,504,152 over the last quarter. Company insiders own 3.49% of the company's stock.

Analyst Ratings Changes

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

Core & Main Stock Up 2.3 %

Shares of NYSE:CNM traded up $1.14 during trading on Thursday, hitting $51.57. The company's stock had a trading volume of 156,433 shares, compared to its average volume of 2,291,092. The business has a 50 day moving average price of $48.95 and a two-hundred day moving average price of $49.52. The company has a market capitalization of $10.21 billion, a PE ratio of 24.20, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15.

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

Core & Main 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.