Core & Main, Inc. (NYSE:CNM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 14.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,231,616 shares of the company's stock after selling 204,540 shares during the period. Bank of New York Mellon Corp owned 0.62% of Core & Main worth $62,702,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNM. Fifth Third Wealth Advisors LLC grew its stake in shares of Core & Main by 4.8% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company's stock valued at $286,000 after buying an additional 258 shares during the period. Avior Wealth Management LLC grew its stake in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after buying an additional 271 shares during the period. CIBC Asset Management Inc grew its stake in shares of Core & Main by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock valued at $299,000 after buying an additional 287 shares during the period. Fifth Third Bancorp grew its stake in shares of Core & Main by 2.8% during the 4th quarter. Fifth Third Bancorp now owns 13,589 shares of the company's stock valued at $692,000 after buying an additional 374 shares during the period. Finally, Andina Capital Management LLC grew its stake in shares of Core & Main by 6.5% during the 4th quarter. Andina Capital Management LLC now owns 9,274 shares of the company's stock valued at $472,000 after buying an additional 567 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

CNM has been the subject of several research reports. Truist Financial boosted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. Barclays upped their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.60.

Core & Main Stock Up 0.4 %

NYSE:CNM traded up $0.19 on Friday, reaching $47.89. The stock had a trading volume of 1,952,482 shares, compared to its average volume of 2,281,435. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average of $53.09 and a 200 day moving average of $48.70. The stock has a market cap of $9.51 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. On average, research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Activity

In other news, EVP John R. Schaller sold 60,452 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the sale, the executive vice president now owns 17,898 shares in the company, valued at approximately $905,101.86. This represents a 77.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the company's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the completion of the sale, the general counsel now owns 7,667 shares in the company, valued at approximately $387,106.83. This trade represents a 86.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,426 shares of company stock worth $8,359,825. 3.49% of the stock is currently owned by corporate 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.