Hsbc Holdings PLC Has $9.35 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Hsbc Holdings PLC grew its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 3,802.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 183,631 shares of the company's stock after acquiring an additional 178,926 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Core & Main worth $9,349,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CNM. Avior Wealth Management LLC boosted its holdings in Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after purchasing an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main in the 3rd quarter valued at about $49,000. UMB Bank n.a. grew its holdings in shares of Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock valued at $49,000 after acquiring an additional 684 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after acquiring an additional 830 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Up 0.3 %

Core & Main stock opened at $52.55 on Monday. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The stock has a market cap of $10.40 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.61 and a beta of 1.05. The company's 50-day moving average price is $48.87 and its two-hundred day moving average price is $49.74. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM - Get Free Report) last announced 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). The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main's revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. As a group, analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Transactions at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 25,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the transaction, the president now owns 16,010 shares in the company, valued at $872,224.80. This trade represents a 60.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction on 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 directly owns 4,120 shares of the company's stock, valued at $207,977.60. This represents a 91.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,831 shares of company stock valued at $4,504,152. 3.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CNM shares. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Royal Bank of Canada lowered their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Citigroup increased their price target 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 dropped their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Finally, Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and a consensus target price of $57.55.

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.

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