Fmr LLC Raises Holdings in Core & Main, Inc. (NYSE:CNM)

FMR LLC grew its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 4.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,055,993 shares of the company's stock after acquiring an additional 358,909 shares during the period. FMR LLC owned about 4.56% of Core & Main worth $461,041,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Core & Main by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock valued at $84,855,000 after buying an additional 122,240 shares in the last quarter. Impax Asset Management Group plc increased its stake in Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $174,661,000 after purchasing an additional 1,416,907 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Core & Main in the third quarter worth approximately $774,000. Vanguard Group Inc. increased its position in shares of Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after acquiring an additional 221,970 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings 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 worth $3,331,000 after acquiring an additional 7,565 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

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Insiders Place Their Bets

In related news, CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now owns 4,120 shares of the company's stock, valued at approximately $207,977.60. This trade represents a 91.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the sale, the executive vice president now directly owns 16,452 shares in the company, valued at $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,805 shares of company stock valued at $4,613,294 in the last quarter. 3.49% of the stock is currently owned by insiders.

Core & Main Price Performance

Shares of CNM stock traded up $0.62 on Tuesday, hitting $49.95. 214,523 shares of the stock traded hands, compared to its average volume of 2,287,949. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm has a 50 day simple moving average of $49.67 and a two-hundred day simple moving average of $49.31. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15.

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 analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $0.34 EPS. Core & Main's revenue was up 17.9% compared to the same quarter last year. As a group, equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CNM shares. Wells Fargo & Company boosted their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Citigroup boosted their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Robert W. Baird cut their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Finally, Royal Bank of Canada dropped their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Core & Main has an average rating of "Moderate Buy" and a consensus price target 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.