Duff & Phelps Investment Management Co. Has $21.61 Million Stake in Core & Main, Inc. (NYSE:CNM)

Duff & Phelps Investment Management Co. lessened its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 17.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 424,376 shares of the company's stock after selling 88,279 shares during the period. Duff & Phelps Investment Management Co. owned about 0.21% of Core & Main worth $21,605,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. US Bancorp DE boosted its position in shares of Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company's stock valued at $91,000 after purchasing an additional 197 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in shares of Core & Main by 4.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company's stock worth $286,000 after purchasing an additional 258 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after acquiring an additional 271 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Core & Main by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock worth $299,000 after acquiring an additional 287 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in Core & Main by 0.6% during the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company's stock valued at $2,846,000 after purchasing an additional 360 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

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Core & Main Stock Performance

Core & Main stock traded up $0.56 during mid-day trading on Tuesday, reaching $48.87. The company had a trading volume of 1,003,231 shares, compared to its average volume of 2,269,798. The company has a 50 day moving average of $51.73 and a 200-day moving average of $49.01. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. 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 firm has a market cap of $9.71 billion, a price-to-earnings ratio of 23.01, a PEG 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 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business earned $0.34 earnings per share. The firm's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, sell-side analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Schaller sold 60,452 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 17,898 shares of the company's stock, valued at approximately $905,101.86. This represents a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,294 shares of company stock worth $9,383,685. Company insiders own 3.49% of the company's stock.

Analyst Ratings Changes

CNM has been the topic of several analyst reports. Robert W. Baird dropped their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Barclays increased their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Truist Financial boosted their price target on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a report on Tuesday. They set a "buy" rating and a $60.00 price objective on the stock. Finally, Citigroup boosted their target price on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $57.55.

About Core & Main

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.