Voya Investment Management LLC Trims Holdings in Core & Main, Inc. (NYSE:CNM)

Voya Investment Management LLC lowered its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,095 shares of the company's stock after selling 17,190 shares during the period. Voya Investment Management LLC owned approximately 0.11% of Core & Main worth $11,307,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CNM. Wilmington Savings Fund Society FSB acquired a new stake in Core & Main in the third quarter valued at $49,000. Retirement Systems of Alabama grew its stake in Core & Main by 10.1% in the 3rd quarter. Retirement Systems of Alabama now owns 254,759 shares of the company's stock valued at $11,311,000 after acquiring an additional 23,277 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Core & Main in the 3rd quarter valued at about $774,000. Lord Abbett & CO. LLC increased its holdings in Core & Main by 6.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 899,064 shares of the company's stock valued at $39,919,000 after acquiring an additional 58,365 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Core & Main by 14.0% during the third quarter. JPMorgan Chase & Co. now owns 2,839,399 shares of the company's stock worth $126,069,000 after acquiring an additional 349,674 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Trading Up 1.6 %

Shares of CNM stock traded up $0.83 during trading hours on Friday, hitting $53.85. 1,172,296 shares of the company were exchanged, compared to its average volume of 2,298,299. The firm has a fifty day moving average of $49.05 and a 200 day moving average of $49.96. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The firm has a market cap of $10.66 billion, a PE ratio of 25.28, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates 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 firm's revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. Analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Core & Main

In other news, CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $207,977.60. This represents a 91.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now directly owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,045 shares of company stock valued at $5,045,698. Company insiders own 3.49% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CNM shares. Wells Fargo & Company raised their price objective on shares of 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 dropped their price target on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Robert W. Baird reduced their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

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.