Vaughan Nelson Investment Management L.P. Sells 340,300 Shares of Core & Main, Inc. (NYSE:CNM)

Vaughan Nelson Investment Management L.P. trimmed its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 23.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,142,442 shares of the company's stock after selling 340,300 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.57% of Core & Main worth $55,911,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Core & Main by 35.2% during the first quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock worth $1,038,457,000 after acquiring an additional 4,721,510 shares during the period. Capital International Investors lifted its stake in Core & Main by 470.6% in the 1st quarter. Capital International Investors now owns 5,093,278 shares of the company's stock valued at $291,590,000 after buying an additional 4,200,591 shares in the last quarter. Bessemer Group Inc. lifted its stake in Core & Main by 915.9% in the 1st quarter. Bessemer Group Inc. now owns 2,586,395 shares of the company's stock valued at $148,073,000 after buying an additional 2,331,802 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Core & Main by 180.1% in the 4th quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company's stock worth $109,405,000 after buying an additional 1,740,685 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Core & Main during the 1st quarter worth approximately $98,876,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNM has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $60.00 price target on shares of Core & Main in a research note on Wednesday, June 5th. Truist Financial lowered their target price on shares of Core & Main from $56.00 to $50.00 and set a "hold" rating on the stock in a research note on Wednesday, June 5th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $52.90.

Insider Transactions at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of the business's stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the sale, the director now directly owns 11,769 shares in the company, valued at approximately $614,577.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.49% of the company's stock.

Core & Main Trading Down 0.7 %

Core & Main stock traded down $0.34 during midday trading on Friday, hitting $51.03. 955,960 shares of the stock were exchanged, compared to its average volume of 2,449,805. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock's 50-day simple moving average is $50.31 and its 200 day simple moving average is $52.23. Core & Main, Inc. has a fifty-two week low of $27.75 and a fifty-two week high of $62.15. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.92 and a beta of 1.06.

Core & Main (NYSE:CNM - Get Free Report) last released its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.02). The firm had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.72 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 EPS. On average, equities analysts anticipate that Core & Main, Inc. will post 2.32 EPS for the current year.

Core & Main Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.