Bessemer Group Inc. Purchases 20,756 Shares of Core & Main, Inc. (NYSE:CNM)

Bessemer Group Inc. grew its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,835,182 shares of the company's stock after buying an additional 20,756 shares during the quarter. Bessemer Group Inc. owned approximately 1.93% of Core & Main worth $195,250,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Core & Main by 7.9% during 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 period. Impax Asset Management Group plc lifted 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 purchasing an additional 1,416,907 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in Core & Main in the 3rd quarter valued at approximately $774,000. Asset Management One Co. Ltd. raised its holdings in shares of Core & Main by 13.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock worth $3,331,000 after acquiring an additional 7,565 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in 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 purchasing an additional 221,970 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This 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 accessible through this link. Also, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 103,305 shares of company stock valued at $5,289,169. 3.49% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CNM shares. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target for the company. Citigroup lifted their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Wells Fargo & Company boosted 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. Royal Bank of Canada lowered their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Finally, 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 report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $57.55.

Core & Main Stock Performance

Shares of NYSE:CNM traded up $0.49 on Monday, hitting $49.24. 338,979 shares of the company were exchanged, compared to its average volume of 2,291,974. The company's 50 day moving average price is $49.77 and its two-hundred day moving average price is $49.29. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (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 business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm earned $0.34 EPS. The company's quarterly revenue was up 17.9% compared to the same quarter last year. Research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

About Core & Main

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.