Yousif Capital Management LLC Decreases Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Yousif Capital Management LLC decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 1.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,141 shares of the company’s stock after selling 1,134 shares during the quarter. Yousif Capital Management LLC’s holdings in Core & Main were worth $3,244,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock valued at $84,855,000 after purchasing an additional 122,240 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after acquiring an additional 1,416,907 shares during the period. Federated Hermes Inc. raised its stake in shares of Core & Main by 4,757.9% in the fourth quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company’s stock valued at $57,953,000 after acquiring an additional 1,114,913 shares during the period. Vanguard Group Inc. raised its stake in shares of Core & Main by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock valued at $927,580,000 after acquiring an additional 221,970 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in shares of Core & Main by 13.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock valued at $3,331,000 after acquiring an additional 7,565 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Trading Down 1.2%

CNM stock opened at $56.05 on Friday. The company has a market capitalization of $11.09 billion, a PE ratio of 26.31, a P/E/G ratio of 2.61 and a beta of 1.02. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $60.38. The firm’s 50-day moving average is $52.95 and its 200 day moving average is $52.01. 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 (NYSE:CNM) last posted its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 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 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. On average, research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 900 shares of Core & Main stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $60.03, for a total value of $54,027.00. Following the transaction, the general counsel now owns 9,691 shares of the company’s stock, valued at $581,750.73. The trade was a 8.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura K. Schneider sold 45,695 shares of Core & Main stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the transaction, the insider now directly owns 12,873 shares in the company, valued at approximately $724,106.25. The trade was a 78.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,666 shares of company stock valued at $8,770,352. Company insiders own 3.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CNM shares. Citigroup increased their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday. Loop Capital increased their target price on shares of Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Robert W. Baird reduced their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.55.

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.