Loomis Sayles & Co. L P Cuts Stake in Core & Main, Inc. (NYSE:CNM)

Loomis Sayles & Co. L P reduced its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 21.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 223,105 shares of the company's stock after selling 61,678 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.11% of Core & Main worth $11,358,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CNM. Charles Schwab Investment Management Inc. boosted its stake in shares of Core & Main by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company's stock worth $84,855,000 after buying an additional 122,240 shares during the last quarter. Impax Asset Management Group plc boosted its position in Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after purchasing an additional 1,416,907 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Core & Main in the 3rd quarter valued at $774,000. Asset Management One Co. Ltd. increased its position in shares of Core & Main by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock valued at $3,331,000 after purchasing an additional 7,565 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of Core & Main by 3.2% during the 4th quarter. Truist Financial Corp now owns 581,845 shares of the company's stock worth $29,622,000 after purchasing an additional 17,899 shares during the period. 94.19% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. This represents a 43.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the completion of the transaction, the general counsel now directly owns 7,667 shares of the company's stock, valued at approximately $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is currently owned by company insiders.

Core & Main Price Performance

Shares of NYSE:CNM traded down $4.27 during trading on Thursday, reaching $46.69. The company had a trading volume of 734,850 shares, compared to its average volume of 2,274,003. The company has a fifty day moving average of $51.46 and a two-hundred day moving average of $49.08. The stock has a market capitalization of $9.28 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. 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 issued its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. The company's revenue was up 17.9% compared to the same quarter last year. Equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CNM shares. Truist Financial raised their price objective on shares of Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a report on Tuesday. They issued a "buy" rating and a $60.00 price target on the stock. Loop Capital increased their price objective on Core & Main from $52.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird cut their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and an average price target 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.