DnB Asset Management AS Sells 14,277 Shares of Core & Main, Inc. (NYSE:CNM)

DnB Asset Management AS cut its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 35.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,609 shares of the company's stock after selling 14,277 shares during the quarter. DnB Asset Management AS's holdings in Core & Main were worth $1,304,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 122,240 shares in the last quarter. Impax Asset Management Group plc increased its stake in Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $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 during the third quarter worth $774,000. Asset Management One Co. Ltd. lifted its stake in shares of Core & Main by 13.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock valued at $3,331,000 after buying an additional 7,565 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of 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 buying 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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Wall Street Analysts Forecast Growth

CNM has been the topic of several recent research reports. Wells Fargo & Company raised their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Robert W. Baird cut their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Royal Bank of Canada decreased their price target on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Citigroup raised their price objective on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price for the company. 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $57.55.

Insider Buying and Selling at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Schaller sold 60,452 shares of Core & Main stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the completion of the transaction, the executive vice president now owns 17,898 shares of the company's stock, valued at $905,101.86. The trade was a 77.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 226,257 shares of company stock valued at $11,501,977. Company insiders own 3.49% of the company's stock.

Core & Main Stock Performance

Shares of NYSE:CNM traded down $1.07 during midday trading on Friday, reaching $46.12. The company had a trading volume of 3,588,755 shares, compared to its average volume of 2,283,153. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company's 50 day moving average price is $51.06 and its 200 day moving average price is $49.19. 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 has a market cap of $9.13 billion, a P/E ratio of 21.65, a P/E/G ratio of 2.61 and a beta of 1.05.

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