Core & Main, Inc. (NYSE:CNM) Shares Acquired by Barclays PLC

Barclays PLC grew its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 23.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 306,425 shares of the company's stock after purchasing an additional 57,516 shares during the period. Barclays PLC owned 0.15% of Core & Main worth $15,601,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Core & Main during the fourth quarter worth about $115,555,000. Norges Bank purchased a new position in shares of Core & Main during the 4th quarter worth about $99,734,000. Impax Asset Management Group plc boosted its position 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 worth $174,661,000 after acquiring an additional 1,416,907 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Core & Main by 4,757.9% in the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company's stock valued at $57,953,000 after purchasing an additional 1,114,913 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Core & Main by 1,259.4% during the 4th quarter. Schroder Investment Management Group now owns 556,891 shares of the company's stock valued at $28,351,000 after buying an additional 515,925 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Down 0.3 %

Core & Main stock traded down $0.16 during midday trading on Friday, hitting $52.26. 185,576 shares of the stock were exchanged, compared to its average volume of 1,932,694. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. 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 firm has a market cap of $10.34 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a 50 day moving average price of $48.91 and a two-hundred day moving average price of $49.59.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, President Bradford A. Cowles sold 25,000 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the sale, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. This represents a 60.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company's stock, valued at approximately $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 88,831 shares of company stock worth $4,504,152. 3.49% of the stock is currently owned by insiders.

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.