Core & Main, Inc. (NYSE:CNM) Stock Holdings Trimmed by Corebridge Financial Inc.

Corebridge Financial Inc. trimmed its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 4.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,427 shares of the company's stock after selling 10,182 shares during the period. Corebridge Financial Inc. owned about 0.11% of Core & Main worth $11,171,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in 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 worth $84,855,000 after buying an additional 122,240 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $174,661,000 after acquiring an additional 1,416,907 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Core & Main during the 3rd quarter worth about $774,000. Asset Management One Co. Ltd. raised its stake in Core & Main by 13.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock valued at $3,331,000 after purchasing an additional 7,565 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in Core & Main by 3.2% in the 4th quarter. Truist Financial Corp now owns 581,845 shares of the company's stock valued at $29,622,000 after purchasing an additional 17,899 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms have recently issued reports on CNM. 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 report on Thursday, December 5th. Barclays upped their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Royal Bank of Canada decreased their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Loop Capital upped their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $57.30.

Core & Main Stock Down 0.3 %

Shares of NYSE:CNM traded down $0.17 during midday trading on Monday, hitting $48.33. 3,251,160 shares of the company's stock traded hands, compared to its average volume of 2,274,636. The firm's fifty day moving average price is $51.73 and its two-hundred day moving average price is $49.01. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a market cap of $9.60 billion, a PE ratio of 22.69, a P/E/G ratio of 2.61 and a beta of 1.05.

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

Insider Activity

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the company's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the transaction, the general counsel now directly owns 7,667 shares of the company's stock, valued at $387,106.83. This represents a 86.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John R. Schaller sold 60,452 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now directly 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. Insiders have sold 184,294 shares of company stock worth $9,383,685 over the last 90 days. Company insiders own 3.49% of the company's stock.

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.