Core & Main, Inc. (NYSE:CNM) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lowered its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 6.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 512,655 shares of the company's stock after selling 34,011 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.25% of Core & Main worth $22,762,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. QRG Capital Management Inc. increased its stake in shares of Core & Main by 1.9% in the 2nd quarter. QRG Capital Management Inc. now owns 12,153 shares of the company's stock valued at $595,000 after acquiring an additional 228 shares in the last quarter. United Services Automobile Association increased its stake in Core & Main by 2.0% in the second quarter. United Services Automobile Association now owns 13,307 shares of the company's stock valued at $651,000 after purchasing an additional 266 shares in the last quarter. Andina Capital Management LLC raised its holdings in shares of Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company's stock valued at $387,000 after purchasing an additional 294 shares during the period. CWM LLC boosted its position in shares of Core & Main by 25.6% during the 2nd quarter. CWM LLC now owns 1,638 shares of the company's stock worth $80,000 after purchasing an additional 334 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company's stock valued at $60,000 after buying an additional 511 shares during the period. 94.19% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Stephen O. Leclair sold 200,000 shares of the company'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 value of $10,976,000.00. Following the sale, the chief executive officer now owns 92,349 shares in the company, valued at $5,068,113.12. This represents a 68.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey D. Giles sold 25,000 shares of the firm'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 transaction, the executive vice president now directly owns 11,615 shares in the company, valued at $635,456.65. The trade was a 68.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,000 shares of company stock valued at $15,926,000. Insiders own 3.49% of the company's stock.

Analyst Upgrades and Downgrades

CNM has been the topic of several recent research reports. Barclays increased their price target on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday. Royal Bank of Canada restated an "outperform" rating and set a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Bank of America reduced their price objective on shares of Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a report on Thursday, September 5th. Finally, Truist Financial upped their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Core & Main has an average rating of "Moderate Buy" and an average target price of $58.10.

Core & Main Stock Down 0.0 %

CNM stock traded down $0.02 during trading on Monday, reaching $53.84. The stock had a trading volume of 1,852,574 shares, compared to its average volume of 2,599,702. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 2.97 and a beta of 1.04. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. The company's 50 day moving average is $45.60 and its two-hundred day moving average is $47.94.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.04 billion for 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 firm's revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

About Core & Main

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.