JPMorgan Chase & Co. Buys 7,633 Shares of Core & Main, Inc. (NYSE:CNM)

JPMorgan Chase & Co. raised its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,847,032 shares of the company's stock after purchasing an additional 7,633 shares during the period. JPMorgan Chase & Co. owned 1.43% of Core & Main worth $144,942,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CNM. Avior Wealth Management LLC boosted its holdings in 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 purchasing an additional 271 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after acquiring an additional 684 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main during the 3rd quarter valued at about $49,000. Blue Trust Inc. raised its stake in shares of Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after acquiring an additional 830 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Core & Main in the 4th quarter worth approximately $78,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Price Performance

CNM traded down $1.07 during trading on Friday, hitting $46.12. The company's stock had a trading volume of 3,588,755 shares, compared to its average volume of 2,283,153. 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 stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The firm's 50 day moving average price is $51.06 and its two-hundred day moving average price is $49.19. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15.

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Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. The business's quarterly revenue was up 17.9% compared to the same quarter last year. Sell-side analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

CNM has been the subject of several research reports. Citigroup raised their target price on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft began 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. Robert W. Baird lowered their target price 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. Royal Bank of Canada cut their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company lifted their price objective on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. One 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. According to data from MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and a consensus target price of $57.55.

Insider Transactions at Core & Main

In other news, EVP John R. Schaller sold 21,868 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. This represents a 57.07 % 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, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the completion of the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $387,106.83. This represents a 86.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 226,257 shares of company stock worth $11,501,977. Corporate insiders own 3.49% of the company's stock.

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.