Truist Financial Corp Has $29.62 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Truist Financial Corp lifted its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 581,845 shares of the company's stock after acquiring an additional 17,899 shares during the period. Truist Financial Corp owned approximately 0.29% of Core & Main worth $29,622,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Raymond James & Associates raised its position in Core & Main by 10.1% during the third quarter. Raymond James & Associates now owns 480,167 shares of the company's stock valued at $21,319,000 after purchasing an additional 44,023 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Core & Main during the 3rd quarter valued at approximately $3,111,000. Riverwater Partners LLC boosted its position in Core & Main by 20.6% during the 3rd quarter. Riverwater Partners LLC now owns 6,079 shares of the company's stock valued at $266,000 after acquiring an additional 1,038 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Core & Main during the 3rd quarter valued at approximately $2,240,000. Finally, Louisiana State Employees Retirement System lifted its holdings in shares of Core & Main by 10.5% during the third quarter. Louisiana State Employees Retirement System now owns 53,500 shares of the company's stock valued at $2,375,000 after purchasing an additional 5,100 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, President Bradford A. Cowles sold 50,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the sale, the president now directly owns 18,423 shares in the company, valued at $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now owns 92,349 shares of the company's stock, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 452,426 shares of company stock valued at $24,285,825. Insiders own 3.49% of the company's stock.

Core & Main Trading Down 2.8 %

Shares of Core & Main stock traded down $1.46 on Friday, reaching $50.97. The company had a trading volume of 2,057,465 shares, compared to its average volume of 1,490,017. The firm's 50 day moving average price is $53.46 and its two-hundred day moving average price is $48.68. The firm has a market cap of $10.13 billion, a PE ratio of 23.93, a PEG ratio of 2.66 and a beta of 1.03. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company's revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $0.65 EPS. Sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Robert W. Baird increased their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Truist Financial upped their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research report on Wednesday, December 4th. Finally, Barclays increased their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.60.

Core & Main Company Profile

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.