Core & Main, Inc. (NYSE:CNM) Shares Sold by Phoenix Financial Ltd.

Phoenix Financial Ltd. lessened its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,553 shares of the company’s stock after selling 315 shares during the period. Phoenix Financial Ltd.’s holdings in Core & Main were worth $334,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in Core & Main by 7.9% in 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 buying an additional 122,240 shares during the last quarter. Impax Asset Management Group plc increased its holdings in shares of Core & Main by 70.4% during 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 in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of Core & Main in the 3rd quarter valued at approximately $774,000. Asset Management One Co. Ltd. boosted its stake in Core & Main by 13.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock worth $3,331,000 after purchasing an additional 7,565 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Core & Main by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after purchasing an additional 221,970 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Activity at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the sale, the general counsel now owns 7,667 shares in the company, valued at $423,908.43. This trade represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $54.07, for a total transaction of $675,875.00. Following the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $865,660.70. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,305 shares of company stock worth $5,289,169 in the last 90 days. Corporate insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Shares of NYSE CNM opened at $48.69 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock has a market capitalization of $9.63 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 2.61 and a beta of 1.05. The firm’s 50 day simple moving average is $49.77 and its 200-day simple moving average is $49.26. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion for 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 quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. Analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Citigroup raised their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Robert W. Baird reduced their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research note on Tuesday, April 1st. They set a “buy” rating and a $60.00 price target on the stock. Royal Bank of Canada reduced their price objective on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven 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 price target of $57.55.

Core & Main 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.