Core & Main, Inc. (NYSE:CNM) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its position in shares of Core & Main, Inc. (NYSE:CNMFree Report) by 61.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,630 shares of the company’s stock after selling 17,100 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Core & Main were worth $541,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNM. PointState Capital LP purchased a new stake in shares of Core & Main during the 3rd quarter worth about $100,013,000. FMR LLC boosted its position in Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after purchasing an additional 1,903,280 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Core & Main by 373.0% in the third quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock valued at $89,416,000 after purchasing an additional 1,588,117 shares during the period. Spruce House Investment Management LLC raised its stake in shares of Core & Main by 400.0% during the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock worth $66,600,000 after buying an additional 1,200,000 shares during the period. Finally, Zimmer Partners LP lifted its position in shares of Core & Main by 535.6% during the 3rd quarter. Zimmer Partners LP now owns 1,303,000 shares of the company’s stock valued at $57,853,000 after buying an additional 1,098,000 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insider Activity at Core & Main

In other news, EVP John R. Schaller sold 60,452 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the completion of the transaction, the executive vice president now directly owns 17,898 shares of the company’s stock, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 427,426 shares of company stock worth $22,923,825. Corporate insiders own 3.49% of the company’s stock.

Core & Main Stock Down 0.8 %

Shares of NYSE:CNM opened at $56.41 on Friday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The stock has a market cap of $11.21 billion, a P/E ratio of 26.49, a PEG ratio of 3.16 and a beta of 1.02. The business has a fifty day moving average of $51.39 and a two-hundred day moving average of $48.23. 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 (NYSE:CNMGet Free Report) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 EPS. On average, research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CNM. Barclays boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. 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 research note on Monday, January 6th. The Goldman Sachs Group raised their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Truist Financial boosted their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, Loop Capital raised their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Read Our Latest Analysis on Core & Main

Core & Main Profile

(Free Report)

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.

See Also

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

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