Swedbank AB Buys 65,800 Shares of Core & Main, Inc. (NYSE:CNM)

Swedbank AB lifted its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,847,900 shares of the company's stock after purchasing an additional 65,800 shares during the period. Swedbank AB owned 0.93% of Core & Main worth $94,077,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main in the 3rd quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Core & Main during the third quarter worth approximately $31,000. Avior Wealth Management LLC lifted its stake in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after acquiring an additional 271 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Core & Main during the third quarter worth $49,000. Finally, UMB Bank n.a. lifted its position in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock valued at $49,000 after acquiring an additional 684 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Price Performance

Shares of NYSE CNM traded up $1.04 during midday trading on Thursday, reaching $57.55. The company's stock had a trading volume of 486,002 shares, compared to its average volume of 1,527,487. 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 one year low of $37.22 and a one year high of $62.15. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02. The company has a 50 day moving average price of $52.10 and a 200 day moving average price of $48.35.

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. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Activity at Core & Main

In related news, President Bradford A. Cowles sold 50,000 shares of the 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 sale, the president now owns 18,423 shares in the company, valued at approximately $1,014,554.61. This represents a 73.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction 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 approximately $5,068,113.12. The trade was a 68.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 427,426 shares of company stock valued at $22,923,825 in the last three months. Corporate insiders own 3.49% of the company's stock.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $62.00 target price (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Robert W. Baird lifted their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Loop Capital raised their price objective on Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Citigroup lifted their price target on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Finally, Barclays lifted their target price on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.30.

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.