Core & Main, Inc. (NYSE:CNM) Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC cut its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 218,391 shares of the company's stock after selling 18,918 shares during the quarter. Peregrine Capital Management LLC owned about 0.11% of Core & Main worth $11,118,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Venturi Wealth Management LLC acquired a new stake in shares of Core & Main in the 4th quarter worth $89,000. Truist Financial Corp increased its stake in shares of Core & Main by 3.2% in the 4th quarter. Truist Financial Corp now owns 581,845 shares of the company's stock worth $29,622,000 after acquiring an additional 17,899 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Core & Main by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock worth $299,000 after acquiring an additional 287 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Core & Main during the 4th quarter worth about $201,000. Finally, Sheaff Brock Investment Advisors LLC increased its position in shares of Core & Main by 9.3% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 8,838 shares of the company's stock worth $450,000 after purchasing an additional 752 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNM has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. The Goldman Sachs Group raised their price objective on Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. Citigroup raised their price objective on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Barclays raised their price objective on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Loop Capital raised their target price on Core & Main from $52.00 to $63.00 and gave the company a "buy" 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and an average price target of $57.60.

Insider Activity

In related news, CEO Stephen O. Leclair sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now owns 92,349 shares in the company, valued at $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 sale, the president now owns 18,423 shares of the company's stock, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 452,426 shares of company stock worth $24,285,825. 3.49% of the stock is currently owned by company insiders.

Core & Main Stock Down 2.8 %

Shares of CNM traded down $1.46 during midday trading on Friday, hitting $50.97. The company had a trading volume of 2,057,465 shares, compared to its average volume of 1,490,017. The company's 50-day simple moving average is $53.44 and its 200-day simple moving average is $48.70. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm has a market capitalization of $10.13 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.66 and a beta of 1.03. 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 announced 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 analysts' expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.16 EPS 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.