Franklin Resources Inc. Sells 141,074 Shares of Core & Main, Inc. (NYSE:CNM)

Franklin Resources Inc. cut its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 42.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,651 shares of the company's stock after selling 141,074 shares during the quarter. Franklin Resources Inc. owned about 0.09% of Core & Main worth $8,587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the 3rd quarter worth $49,000. Geode Capital Management LLC lifted its position in Core & Main by 14.5% during the third quarter. Geode Capital Management LLC now owns 3,261,964 shares of the company's stock worth $144,869,000 after purchasing an additional 412,520 shares during the period. Vestcor Inc grew its stake in Core & Main by 233.9% during the third quarter. Vestcor Inc now owns 16,026 shares of the company's stock worth $712,000 after buying an additional 11,227 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Core & Main by 10.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 125,473 shares of the company's stock valued at $5,571,000 after buying an additional 11,427 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Core & Main in the 3rd quarter valued at approximately $1,391,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CNM shares. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Bank of America decreased their price target on Core & Main from $38.00 to $34.00 and set an "underperform" rating on the stock in a research note on Thursday, September 5th. The Goldman Sachs Group upped their price objective on Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. Barclays lifted their target price on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and an average price target of $58.10.

Insider Buying and Selling

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

Core & Main Trading Up 0.8 %

Shares of Core & Main stock traded up $0.41 on Friday, hitting $50.54. The stock had a trading volume of 10,195,289 shares, compared to its average volume of 2,613,481. The stock has a 50 day moving average of $47.32 and a 200 day moving average of $47.64. The firm has a market capitalization of $10.04 billion, a P/E ratio of 23.73, a PEG ratio of 2.95 and a beta of 1.04. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. 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 (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company's revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.65 EPS. Sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Core & Main 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.