Alliancebernstein L.P. Sells 55,922 Shares of Core & Main, Inc. (NYSE:CNM)

Alliancebernstein L.P. lowered its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,085,391 shares of the company's stock after selling 55,922 shares during the quarter. Alliancebernstein L.P. owned 1.05% of Core & Main worth $106,167,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Core & Main by 1.2% during 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 last quarter. State Street Corp raised its holdings in shares of Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company's stock valued at $245,177,000 after acquiring an additional 489,224 shares in the last quarter. Royal London Asset Management Ltd. lifted its stake in Core & Main by 1.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock worth $194,005,000 after acquiring an additional 48,833 shares during the period. Amundi boosted its holdings in Core & Main by 5.7% in the fourth quarter. Amundi now owns 3,659,261 shares of the company's stock valued at $186,722,000 after acquiring an additional 196,828 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after purchasing an additional 1,416,907 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

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Core & Main Stock Performance

Core & Main stock traded down $1.40 during midday trading on Monday, hitting $44.75. The stock had a trading volume of 926,711 shares, compared to its average volume of 2,277,897. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a market capitalization of $8.85 billion, a PE ratio of 21.01, a P/E/G ratio of 2.61 and a beta of 1.05. The firm's fifty day moving average is $51.06 and its two-hundred day moving average is $49.19.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm's revenue for the quarter was up 17.9% on a year-over-year basis. On average, research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. Robert W. Baird decreased their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Royal Bank of Canada cut their price target on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company lifted their price objective on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and an average target price of $57.55.

Insiders Place Their Bets

In related news, CAO John Weldon Stephens sold 41,963 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $207,977.60. This represents a 91.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Schaller sold 60,452 shares of Core & Main stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now owns 17,898 shares of the company's stock, valued at approximately $905,101.86. This trade represents a 77.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,257 shares of company stock worth $11,501,977 in the last three months. 3.49% of the stock is owned by company insiders.

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.