Pembroke Management LTD Sells 117,478 Shares of Core & Main, Inc. (NYSE:CNM)

Pembroke Management LTD lessened its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 16.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 580,503 shares of the company's stock after selling 117,478 shares during the period. Core & Main accounts for approximately 3.9% of Pembroke Management LTD's investment portfolio, making the stock its 7th largest holding. Pembroke Management LTD owned about 0.29% of Core & Main worth $28,410,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Core & Main by 35.2% in the 1st quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company's stock worth $1,038,457,000 after buying an additional 4,721,510 shares during the last quarter. Capital International Investors grew its holdings in Core & Main by 470.6% in the first quarter. Capital International Investors now owns 5,093,278 shares of the company's stock worth $291,590,000 after purchasing an additional 4,200,591 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Core & Main by 915.9% during the first quarter. Bessemer Group Inc. now owns 2,586,395 shares of the company's stock worth $148,073,000 after purchasing an additional 2,331,802 shares in the last quarter. Swedbank AB acquired a new position in Core & Main during the 1st quarter valued at about $98,876,000. Finally, Norges Bank purchased a new stake in Core & Main in the fourth quarter valued at about $69,282,000. 94.19% of the stock is currently owned by institutional investors.

Insider Activity at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of the firm'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 owns 11,769 shares in the company, valued at $614,577.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 3.49% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CNM shares. Royal Bank of Canada restated an "outperform" rating and set a $60.00 price objective on shares of Core & Main in a report on Wednesday, June 5th. Truist Financial cut their price target 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Core & Main has an average rating of "Moderate Buy" and a consensus price target of $52.90.

Core & Main Stock Performance

CNM traded down $0.25 during trading on Monday, reaching $48.03. 3,665,200 shares of the company's stock were exchanged, compared to its average volume of 2,449,118. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.14 and a quick ratio of 1.23. Core & Main, Inc. has a 1 year low of $27.75 and a 1 year high of $62.15. The company's fifty day simple moving average is $50.40 and its 200-day simple moving average is $52.79. The stock has a market capitalization of $9.68 billion, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.82 and a beta of 1.06.

Core & Main (NYSE:CNM - Get Free Report) last posted its 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). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business earned $0.50 earnings per share. The firm's revenue was up 10.6% on a year-over-year basis. As a group, research analysts predict that Core & Main, Inc. will post 2.32 earnings per share for the current fiscal year.

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.