Pacer Advisors Inc. Sells 4,212,411 Shares of Core & Main, Inc. (NYSE:CNM)

Pacer Advisors Inc. decreased its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 99.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,808 shares of the company's stock after selling 4,212,411 shares during the quarter. Pacer Advisors Inc.'s holdings in Core & Main were worth $1,925,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CNM. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the third quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of Core & Main in the 3rd quarter worth approximately $31,000. Avior Wealth Management LLC boosted 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 valued at $41,000 after purchasing an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the third quarter worth $49,000. Finally, UMB Bank n.a. raised its stake in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after buying an additional 684 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNM. Royal Bank of Canada reiterated an "outperform" rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Barclays raised their target price on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Loop Capital boosted their price target on Core & Main from $52.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price objective on shares of Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. Finally, Citigroup increased their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and a consensus price target of $57.30.

Core & Main Stock Down 0.9 %

Shares of NYSE CNM traded down $0.49 during mid-day trading on Friday, reaching $56.54. 1,219,841 shares of the company's stock traded hands, compared to its average volume of 1,427,934. 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 business has a 50-day simple moving average of $52.57 and a 200 day simple moving average of $48.41. The stock has a market cap of $11.23 billion, a P/E ratio of 26.55, a PEG ratio of 3.12 and a beta of 1.02. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the company posted $0.65 EPS. The company's revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the sale, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This trade represents a 20.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Bradford A. Cowles sold 50,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the president now owns 18,423 shares in the company, valued at $1,014,554.61. The trade was a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,426 shares of company stock worth $22,923,825 in the last quarter. 3.49% of the stock is currently owned by corporate insiders.

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.