Invesco Ltd. Purchases 44,513 Shares of Core & Main, Inc. (NYSE:CNM)

Invesco Ltd. grew its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,926,569 shares of the company's stock after buying an additional 44,513 shares during the quarter. Invesco Ltd. owned 2.98% of Core & Main worth $301,722,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in 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 purchasing an additional 221,970 shares in the last quarter. FMR LLC increased its position in shares of Core & Main by 4.1% during the 4th quarter. FMR LLC now owns 9,055,993 shares of the company's stock valued at $461,041,000 after purchasing an additional 358,909 shares during the last quarter. State Street Corp raised its holdings in shares of Core & Main by 9.7% during the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company's stock valued at $245,177,000 after buying an additional 489,224 shares in the last quarter. Royal London Asset Management Ltd. lifted its position in Core & Main by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock worth $194,005,000 after buying an additional 48,833 shares during the last quarter. Finally, Amundi boosted its stake in Core & Main by 5.7% in the fourth quarter. Amundi now owns 3,659,261 shares of the company's stock worth $186,722,000 after buying an additional 196,828 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of brokerages have recently weighed in on CNM. Royal Bank of Canada lowered their price objective on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Robert W. Baird lowered their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Citigroup boosted their target price on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. One equities research 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's stock. Based on data from MarketBeat, Core & Main currently has an average rating of "Moderate Buy" and a consensus target price of $57.55.

Core & Main Trading Down 0.8 %

NYSE CNM traded down $0.40 on Wednesday, hitting $49.09. The company's stock had a trading volume of 295,891 shares, compared to its average volume of 1,964,365. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The firm has a market cap of $9.71 billion, a P/E ratio of 23.05, a PEG ratio of 2.61 and a beta of 1.05. The company's 50-day simple moving average is $49.55 and its 200 day simple moving average is $49.31. The company has a current ratio of 2.14, a quick ratio of 1.28 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 (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during 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%. The firm's revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. Research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Core & Main

In other news, President Bradford A. Cowles sold 25,000 shares of Core & Main stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the sale, the president now directly owns 16,010 shares in the company, valued at $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 88,831 shares of company stock valued at $4,504,152 in the last three months. 3.49% of the stock is currently owned by company insiders.

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.