Principal Financial Group Inc. Purchases 19,012 Shares of Core & Main, Inc. (NYSE:CNM)

Principal Financial Group Inc. increased its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,286,389 shares of the company's stock after purchasing an additional 19,012 shares during the period. Principal Financial Group Inc. owned approximately 0.64% of Core & Main worth $62,956,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its holdings in shares of Core & Main by 45.4% in the fourth quarter. New York State Common Retirement Fund now owns 99,832 shares of the company's stock worth $4,034,000 after buying an additional 31,155 shares during the period. GAMMA Investing LLC bought a new stake in Core & Main during the 4th quarter valued at about $41,000. Truist Financial Corp boosted its position in Core & Main by 137.0% in the 4th quarter. Truist Financial Corp now owns 31,347 shares of the company's stock valued at $1,267,000 after buying an additional 18,120 shares during the period. Russell Investments Group Ltd. grew its stake in Core & Main by 300.1% in the 4th quarter. Russell Investments Group Ltd. now owns 94,155 shares of the company's stock worth $3,813,000 after acquiring an additional 70,621 shares in the last quarter. Finally, Retirement Systems of Alabama bought a new stake in shares of Core & Main during the fourth quarter valued at approximately $6,914,000. 94.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Core & Main

In other news, Director James G. Castellano sold 12,500 shares of the business's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $652,750.00. Following the sale, the director now directly owns 11,769 shares of the company's stock, valued at $614,577.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.49% of the stock is currently owned by company insiders.

Core & Main Stock Down 0.5 %

Shares of CNM stock traded down $0.25 during trading hours on Friday, reaching $48.03. 3,572,490 shares of the company's stock were exchanged, compared to its average volume of 2,449,114. 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 company has a market cap of $9.68 billion, a price-to-earnings ratio of 22.56, a P/E/G ratio of 1.92 and a beta of 1.06. Core & Main, Inc. has a fifty-two week low of $27.75 and a fifty-two week high of $62.15. The stock's 50 day moving average is $50.47 and its 200-day moving average is $52.64.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. Core & Main's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 EPS. Analysts predict that Core & Main, Inc. will post 2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNM. Royal Bank of Canada reaffirmed an "outperform" rating and set a $60.00 target price on shares of Core & Main in a research report on Wednesday, June 5th. Truist Financial dropped their target price on shares of Core & Main from $56.00 to $50.00 and set a "hold" rating on the stock in a report on Wednesday, June 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and an average target price of $52.90.

Core & Main Company 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.

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