Barclays PLC Trims Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Barclays PLC cut its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 27.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 248,909 shares of the company's stock after selling 96,434 shares during the quarter. Barclays PLC owned approximately 0.12% of Core & Main worth $11,052,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in shares of Core & Main by 6.2% in the second quarter. Rhumbline Advisers now owns 508,554 shares of the company's stock worth $24,889,000 after purchasing an additional 29,490 shares during the last quarter. Quest Partners LLC increased its position in shares of Core & Main by 1,195,600.0% in the third quarter. Quest Partners LLC now owns 11,957 shares of the company's stock valued at $531,000 after acquiring an additional 11,956 shares during the period. Eagle Asset Management Inc. increased its position in shares of Core & Main by 2.6% in the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company's stock valued at $74,979,000 after acquiring an additional 44,282 shares during the period. South Street Advisors LLC purchased a new stake in shares of Core & Main during the second quarter worth about $8,427,000. Finally, Douglass Winthrop Advisors LLC boosted its holdings in shares of Core & Main by 23.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company's stock worth $3,120,000 after purchasing an additional 13,263 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Down 1.7 %

Core & Main stock traded down $0.92 during mid-day trading on Tuesday, hitting $51.99. The company had a trading volume of 1,864,282 shares, compared to its average volume of 2,581,868. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. 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 stock's 50 day moving average price is $46.93 and its two-hundred day moving average price is $47.65. The company has a market capitalization of $10.46 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04.

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

Analyst Ratings Changes

A number of research firms have commented on CNM. Robert W. Baird upped their price target on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an "outperform" rating and set a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Bank of America cut their price objective on Core & Main from $38.00 to $34.00 and set an "underperform" rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company increased their target price on Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Finally, Truist Financial lifted their price target on Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and a consensus price target of $58.10.

Insider Activity

In other news, President Bradford A. Cowles sold 50,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the transaction, the president now directly owns 18,423 shares in the company, valued at $1,014,554.61. This trade represents a 73.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,349 shares of the company's stock, valued at $5,068,113.12. The trade was a 68.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,000 shares of company stock valued at $15,926,000 in the last 90 days. 3.49% of the stock is currently owned by insiders.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.