Pictet Asset Management Holding SA Purchases 13,695 Shares of Core & Main, Inc. (NYSE:CNM)

Pictet Asset Management Holding SA raised its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,006,669 shares of the company's stock after acquiring an additional 13,695 shares during the period. Pictet Asset Management Holding SA owned approximately 4.03% of Core & Main worth $407,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company's stock valued at $927,580,000 after purchasing an additional 221,970 shares in the last quarter. FMR LLC increased its holdings in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company's stock worth $386,151,000 after buying an additional 1,903,280 shares during the last quarter. State Street Corp raised its position in shares of Core & Main by 9.7% during the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company's stock valued at $245,177,000 after buying an additional 489,224 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in shares of Core & Main by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company's stock valued at $194,005,000 after acquiring an additional 48,833 shares during the last quarter. Finally, Amundi grew its position in Core & Main by 5.7% in the fourth quarter. Amundi now owns 3,659,261 shares of the company's stock worth $186,722,000 after acquiring an additional 196,828 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have issued reports on CNM. Citigroup upped their price objective on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. The Goldman Sachs Group increased their price target on Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research note on Tuesday. They set a "buy" rating and a $60.00 price objective for the company. Truist Financial increased their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Finally, Loop Capital lifted their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $57.55.

Core & Main Trading Up 1.2 %

CNM traded up $0.56 on Tuesday, reaching $48.87. 1,015,859 shares of the company traded hands, compared to its average volume of 1,874,669. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market cap of $9.71 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The firm has a fifty day simple moving average of $51.73 and a two-hundred day simple moving average of $49.01. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15.

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

Insider Activity

In other Core & Main news, EVP John R. Schaller sold 60,452 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the transaction, the executive vice president now directly owns 17,898 shares in the company, valued at $905,101.86. This represents a 77.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $2,524,500.00. Following the completion of the sale, the general counsel now owns 7,667 shares of the company's stock, valued at approximately $387,106.83. This represents a 86.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,294 shares of company stock worth $9,383,685. 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.