Victory Capital Management Inc. Trims Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Victory Capital Management Inc. cut its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 40.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,625 shares of the company's stock after selling 93,020 shares during the period. Victory Capital Management Inc. owned 0.07% of Core & Main worth $6,956,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Core & Main in the 3rd quarter worth approximately $26,000. Avior Wealth Management LLC raised its position in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after buying an additional 271 shares during the last quarter. UMB Bank n.a. raised its position in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after buying an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Core & Main during the 3rd quarter worth approximately $49,000. Finally, Blue Trust Inc. raised its position in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after buying an additional 830 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CNM shares. Wells Fargo & Company lifted their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Robert W. Baird lifted their target price 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 lifted their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Finally, Barclays lifted their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.60.

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Insider Activity

In other news, EVP John R. Schaller sold 60,452 shares of the business's 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 owns 17,898 shares of the company's stock, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the transaction, the general counsel now directly owns 7,667 shares in the company, valued at approximately $423,908.43. The trade was a 20.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,294 shares of company stock valued at $9,383,685. 3.49% of the stock is currently owned by insiders.

Core & Main Trading Down 0.1 %

Shares of CNM stock traded down $0.07 on Tuesday, hitting $47.78. 1,170,760 shares of the stock traded hands, compared to its average volume of 2,250,113. The firm's 50-day moving average price is $52.53 and its two-hundred day moving average price is $48.48. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The stock has a market capitalization of $9.49 billion, a PE ratio of 22.43, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

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.