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

Verition Fund Management LLC lowered its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 75.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,509 shares of the company's stock after selling 118,416 shares during the period. Verition Fund Management LLC's holdings in Core & Main were worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company's stock worth $386,151,000 after purchasing an additional 1,903,280 shares during the period. Impax Asset Management Group plc raised its stake in Core & Main by 373.0% in the third quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock valued at $89,416,000 after buying an additional 1,588,117 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Core & Main by 37.1% in the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock worth $205,974,000 after acquiring an additional 1,137,817 shares in the last quarter. Anomaly Capital Management LP raised its holdings in shares of Core & Main by 35.9% in the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company's stock worth $176,601,000 after buying an additional 953,489 shares during the last quarter. Finally, Fernbridge Capital Management LP purchased a new stake in shares of Core & Main during the second quarter valued at $40,447,000. Institutional investors own 94.19% of the company's stock.

Insider Buying and Selling

In other news, EVP Jeffrey D. Giles sold 25,000 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the sale, the executive vice president now directly owns 11,615 shares of the company's stock, valued at approximately $635,456.65. The trade was a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret Newman sold 15,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total value of $828,750.00. Following the transaction, the director now directly owns 11,769 shares in the company, valued at approximately $650,237.25. This trade represents a 56.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,000 shares of company stock valued at $15,926,000 in the last three months. 3.49% of the stock is owned by corporate insiders.

Core & Main Trading Down 1.4 %

NYSE:CNM traded down $0.76 on Friday, hitting $53.86. The stock had a trading volume of 2,119,925 shares, compared to its average volume of 3,166,223. The company has a fifty day moving average price of $45.60 and a two-hundred day moving average price of $48.11. Core & Main, Inc. has a 1-year low of $35.70 and a 1-year high of $62.15. The company has a quick ratio of 1.34, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 3.59 and a beta of 1.04.

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 the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.65 EPS. Equities research analysts expect that Core & Main, Inc. will post 2.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America reduced their price objective on Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a research note on Thursday, September 5th. The Goldman Sachs Group upped their target price on Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday. Robert W. Baird boosted their price target on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 3rd. Finally, Barclays boosted their target price on shares of Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and an average target price of $58.10.

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.