Select Equity Group L.P. Sells 3,192,243 Shares of Core & Main, Inc. (NYSE:CNM)

Select Equity Group L.P. decreased its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,182,779 shares of the company's stock after selling 3,192,243 shares during the period. Core & Main accounts for approximately 2.7% of Select Equity Group L.P.'s holdings, making the stock its 11th biggest holding. Select Equity Group L.P. owned about 6.64% of Core & Main worth $671,135,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock valued at $91,000 after acquiring an additional 197 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of Core & Main by 4.8% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company's stock valued at $286,000 after acquiring an additional 258 shares during the last quarter. Avior Wealth Management LLC increased its stake 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 acquiring an additional 271 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Core & Main by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock valued at $299,000 after acquiring an additional 287 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Core & Main

In other news, CAO John Weldon Stephens sold 10,214 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $53.02, for a total transaction of $541,546.28. Following the sale, the chief accounting officer now directly owns 4,120 shares in the company, valued at approximately $218,442.40. The trade was a 71.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the sale, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This trade represents a 57.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,045 shares of company stock valued at $3,683,698 over the last quarter. 3.49% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CNM. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target for the company. Wells Fargo & Company increased their target price on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Royal Bank of Canada lowered their target price 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. Finally, Robert W. Baird lowered their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $57.55.

Core & Main Stock Up 0.3%

NYSE:CNM traded up $0.17 during trading hours on Tuesday, reaching $53.46. 1,368,590 shares of the stock were exchanged, compared to its average volume of 2,312,226. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $61.27. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm has a 50 day moving average of $49.97 and a 200 day moving average of $50.58. The stock has a market cap of $10.58 billion, a PE ratio of 25.10, a PEG ratio of 2.61 and a beta of 1.04.

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