The Manufacturers Life Insurance Company Sells 285,230 Shares of Core & Main, Inc. (NYSE:CNM)

The Manufacturers Life Insurance Company trimmed its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 55.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,929 shares of the company's stock after selling 285,230 shares during the quarter. The Manufacturers Life Insurance Company owned 0.11% of Core & Main worth $10,209,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank raised its position in Core & Main by 30.9% in the first quarter. Comerica Bank now owns 67,754 shares of the company's stock valued at $3,879,000 after purchasing an additional 16,009 shares during the last quarter. DNB Asset Management AS boosted its position in shares of Core & Main by 14.2% during the second quarter. DNB Asset Management AS now owns 44,989 shares of the company's stock valued at $2,201,000 after buying an additional 5,594 shares during the last quarter. CWM LLC lifted its holdings in Core & Main by 25.6% during the second quarter. CWM LLC now owns 1,638 shares of the company's stock worth $80,000 after acquiring an additional 334 shares during the period. Renaissance Capital LLC lifted its holdings in Core & Main by 30.6% during the second quarter. Renaissance Capital LLC now owns 149,057 shares of the company's stock worth $7,295,000 after acquiring an additional 34,904 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of Core & Main by 1.9% in the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company's stock valued at $595,000 after buying an additional 228 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Trading Down 0.9 %

NYSE CNM traded down $0.52 on Wednesday, hitting $55.26. The company's stock had a trading volume of 3,819,041 shares, compared to its average volume of 2,603,349. Core & Main, Inc. has a 52-week low of $35.03 and a 52-week high of $62.15. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. The company's 50-day simple moving average is $45.03 and its 200 day simple moving average is $48.06. The firm has a market cap of $11.11 billion, a P/E ratio of 26.17, a PEG ratio of 3.14 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The company 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 21.91% and a net margin of 5.58%. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. Research analysts predict that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Core & Main in a research note on Monday, September 23rd. They issued an "overweight" rating and a $52.00 target price on the stock. Bank of America reduced their price target on Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a research report on Thursday, September 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday. Robert W. Baird lifted their price target on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on Core & Main from $57.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, September 6th. One equities 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.30.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.