Core & Main, Inc. (NYSE:CNM) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its position in shares of Core & Main, Inc. (NYSE:CNM) by 72.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,631 shares of the company’s stock after selling 54,000 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Core & Main were worth $835,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNM. Renaissance Capital LLC grew its holdings in shares of Core & Main by 59.0% during the fourth quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock worth $3,458,000 after buying an additional 31,740 shares during the last quarter. State of Michigan Retirement System purchased a new position in shares of Core & Main during the fourth quarter worth about $1,325,000. Exchange Traded Concepts LLC grew its holdings in shares of Core & Main by 328.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock worth $3,186,000 after buying an additional 60,435 shares during the last quarter. Barclays PLC grew its holdings in shares of Core & Main by 1,608.3% during the third quarter. Barclays PLC now owns 541,940 shares of the company’s stock worth $15,634,000 after buying an additional 510,216 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Core & Main by 14.3% during the third quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company’s stock worth $273,812,000 after buying an additional 1,187,700 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $56.34 on Monday. The business’s 50 day simple moving average is $50.70 and its 200-day simple moving average is $40.98. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.74 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. Core & Main, Inc. has a 12 month low of $24.40 and a 12 month high of $60.83.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities analysts forecast that Core & Main, Inc. will post 2.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CNM. Loop Capital raised their price target on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Barclays lifted their price objective on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Truist Financial reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Core & Main in a report on Wednesday, March 20th. Royal Bank of Canada lifted their price objective on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Insider Buying and Selling

In related news, CAO John Weldon Stephens sold 15,000 shares of Core & Main stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $57.91, for a total transaction of $868,650.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,281 shares in the company, valued at approximately $247,912.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO John Weldon Stephens sold 15,000 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the completion of the transaction, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at $247,912.71. The disclosure for this sale can be found here. Insiders sold 23,413,315 shares of company stock worth $962,796,259 in the last ninety days. Insiders own 3.49% of the company’s stock.

Core & Main Company Profile

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 portfolio 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, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.