1,959,029 Shares in Core & Main, Inc. (NYSE:CNM) Purchased by Norges Bank

Norges Bank acquired a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,959,029 shares of the company's stock, valued at approximately $99,734,000. Norges Bank owned approximately 0.99% of Core & Main as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNM. Cerity Partners LLC lifted its holdings in shares of Core & Main by 53.9% in the third quarter. Cerity Partners LLC now owns 31,728 shares of the company's stock valued at $1,409,000 after purchasing an additional 11,118 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Core & Main by 11.6% during the 3rd quarter. Captrust Financial Advisors now owns 29,444 shares of the company's stock worth $1,307,000 after purchasing an additional 3,066 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Core & Main by 24.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 193,072 shares of the company's stock valued at $8,572,000 after buying an additional 38,023 shares in the last quarter. Millburn Ridgefield Corp acquired a new stake in Core & Main during the 3rd quarter valued at $118,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Core & Main during the third quarter worth $3,024,000. Institutional investors and hedge funds own 94.19% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CNM shares. Royal Bank of Canada reduced their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Citigroup upped their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, January 6th. 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 report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of 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 issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and an average price target of $57.55.

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Core & Main Trading Down 2.3 %

Shares of NYSE CNM traded down $1.07 during trading on Friday, hitting $46.12. 3,588,755 shares of the company traded hands, compared to its average volume of 2,283,153. The company has a 50-day moving average price of $51.06 and a 200-day moving average price of $49.19. The firm has a market capitalization of $9.13 billion, a P/E ratio of 21.65, a P/E/G ratio of 2.61 and a beta of 1.05. 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, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The company's revenue for the quarter was up 17.9% compared to the same quarter last year. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling

In other news, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the transaction, the president now owns 16,010 shares of the company's stock, valued at approximately $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the business'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 sale, the general counsel now directly owns 7,667 shares of the company's stock, valued at approximately $387,106.83. This represents a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,257 shares of company stock valued at $11,501,977 in the last quarter. Company 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.