Thematics Asset Management Trims Position in Core & Main, Inc. (NYSE:CNM)

Thematics Asset Management reduced its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 459,000 shares of the company's stock after selling 25,000 shares during the period. Thematics Asset Management owned about 0.23% of Core & Main worth $23,368,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CNM. Avior Wealth Management LLC raised its stake in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after acquiring an additional 271 shares during the period. UMB Bank n.a. lifted its stake 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 buying an additional 684 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main during the 3rd quarter valued at $49,000. Quadrant Capital Group LLC boosted its holdings in Core & Main by 30.1% in 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 period. Finally, Blue Trust Inc. increased its stake in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after buying an additional 830 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CNM shares. Royal Bank of Canada lowered their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company boosted their price target 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 started coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Citigroup boosted their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Finally, Robert W. Baird cut their target price 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. 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.55.

Core & Main Price Performance

Shares of NYSE CNM traded up $0.14 during mid-day trading on Friday, hitting $52.55. 587,361 shares of the company's stock traded hands, compared to its average volume of 1,937,238. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company's 50-day moving average is $48.91 and its two-hundred day moving average is $49.59. The company has a market capitalization of $10.40 billion, a P/E ratio of 24.67, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. On average, equities analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the firm'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 sale, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. This trade represents a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $872,224.80. This represents a 60.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,831 shares of company stock worth $4,504,152 over the last quarter. Insiders own 3.49% of the company's stock.

About Core & Main

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.