Vanguard Group Inc. Acquires 221,970 Shares of Core & Main, Inc. (NYSE:CNM)

Vanguard Group Inc. raised its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,219,997 shares of the company's stock after buying an additional 221,970 shares during the period. Vanguard Group Inc. owned about 9.17% of Core & Main worth $927,580,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CNM. US Bancorp DE lifted its stake in shares of Core & Main by 12.3% in the fourth quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after acquiring an additional 197 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of Core & Main by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company's stock worth $286,000 after buying an additional 258 shares during the period. Avior Wealth Management LLC increased its position in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after buying an additional 271 shares during the period. CIBC Asset Management Inc raised its stake in Core & Main by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock worth $299,000 after buying an additional 287 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in Core & Main by 0.6% in the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company's stock valued at $2,846,000 after buying an additional 360 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

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Insiders Place Their Bets

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction that occurred 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 transaction, the general counsel now owns 7,667 shares of the company's stock, valued at $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction on 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 completion of the sale, the president now directly owns 16,010 shares of the company's stock, valued at $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,294 shares of company stock valued at $9,383,685. Corporate insiders own 3.49% of the company's stock.

Analyst Ratings Changes

CNM has been the subject of a number of recent analyst reports. Truist Financial increased their price target on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Citigroup raised their target price on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Barclays boosted their price target on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Royal Bank of Canada reduced their price objective on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research report on Tuesday. They set a "buy" rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and an average price target of $57.55.

Core & Main Stock Up 1.2 %

NYSE CNM traded up $0.61 during mid-day trading on Wednesday, hitting $49.99. The company's stock had a trading volume of 281,588 shares, compared to its average volume of 2,270,076. 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's 50 day simple moving average is $51.58 and its 200 day simple moving average is $49.07. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 23.43, a PEG ratio of 2.61 and a beta of 1.05.

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

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.