Core & Main, Inc. (NYSE:CNM) Shares Acquired by Macquarie Group Ltd.

Macquarie Group Ltd. lifted its stake in shares of Core & Main, Inc. (NYSE:CNMGet Rating) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,311 shares of the company’s stock after purchasing an additional 6,240 shares during the quarter. Macquarie Group Ltd.’s holdings in Core & Main were worth $2,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Bank of Canada FI acquired a new stake in shares of Core & Main during the 3rd quarter worth approximately $28,000. Nisa Investment Advisors LLC acquired a new stake in shares of Core & Main during the 3rd quarter worth approximately $45,000. Assetmark Inc. raised its position in shares of Core & Main by 33.8% during the 3rd quarter. Assetmark Inc. now owns 2,158 shares of the company’s stock worth $49,000 after purchasing an additional 545 shares during the period. MetLife Investment Management LLC bought a new position in Core & Main in the 1st quarter worth approximately $58,000. Finally, Lazard Asset Management LLC bought a new position in Core & Main in the 2nd quarter worth approximately $107,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CNM has been the subject of a number of recent analyst reports. Loop Capital initiated coverage on Core & Main in a report on Monday, February 13th. They issued a “buy” rating and a $28.00 price objective for the company. Credit Suisse Group decreased their price objective on Core & Main from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, December 15th. Truist Financial decreased their price objective on Core & Main to $22.00 in a report on Wednesday, December 14th. Royal Bank of Canada increased their price objective on Core & Main from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, December 14th. Finally, Citigroup decreased their price objective on Core & Main from $26.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, December 16th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $28.44.

Insider Transactions at Core & Main

In other news, insider Laura K. Schneider sold 66,763 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $24.03, for a total transaction of $1,604,314.89. Following the completion of the sale, the insider now directly owns 4,866 shares of the company’s stock, valued at approximately $116,929.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Mark G. Whittenburg sold 6,411 shares of the firm’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $23.06, for a total transaction of $147,837.66. Following the completion of the sale, the general counsel now directly owns 5,286 shares of the company’s stock, valued at approximately $121,895.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Laura K. Schneider sold 66,763 shares of the firm’s stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $24.03, for a total value of $1,604,314.89. Following the sale, the insider now directly owns 4,866 shares of the company’s stock, valued at $116,929.98. The disclosure for this sale can be found here. Insiders sold a total of 129,171 shares of company stock valued at $3,072,903 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Core & Main Stock Performance

Shares of NYSE CNM opened at $22.89 on Friday. The stock has a fifty day moving average price of $22.02 and a two-hundred day moving average price of $22.05. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.32 and a current ratio of 2.49. The firm has a market cap of $5.63 billion, a P/E ratio of 10.90, a PEG ratio of 0.66 and a beta of 0.82. Core & Main, Inc. has a 1 year low of $18.75 and a 1 year high of $26.63.

Core & Main (NYSE:CNMGet Rating) last issued its quarterly earnings results on Tuesday, December 13th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Core & Main had a return on equity of 22.01% and a net margin of 5.52%. Research analysts forecast that Core & Main, Inc. will post 2.15 EPS for the current fiscal year.

Core & Main Profile

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Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.

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Institutional Ownership by Quarter for Core & Main (NYSE:CNM)

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