Wellington Management Group LLP Sells 47,496 Shares of Core & Main, Inc. (NYSE:CNM)

Wellington Management Group LLP decreased its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 17.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 231,319 shares of the company's stock after selling 47,496 shares during the quarter. Wellington Management Group LLP owned 0.12% of Core & Main worth $10,271,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Select Equity Group L.P. raised its position in Core & Main by 0.3% in the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company's stock worth $754,986,000 after purchasing an additional 39,475 shares in the last quarter. FMR LLC grew its stake 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 valued at $386,151,000 after purchasing an additional 1,903,280 shares during the period. State Street Corp raised its holdings in shares of Core & Main by 9.7% in the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company's stock worth $245,177,000 after buying an additional 489,224 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Core & Main by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company's stock worth $188,710,000 after buying an additional 41,521 shares during the period. Finally, Royal London Asset Management Ltd. lifted its position in shares of Core & Main by 39.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company's stock worth $167,029,000 after buying an additional 1,073,451 shares during the period. 94.19% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Jeffrey D. Giles sold 25,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the transaction, the executive vice president now directly owns 11,615 shares in the company, valued at $635,456.65. This trade represents a 68.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Bradford A. Cowles sold 50,000 shares of the company's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the sale, the president now owns 18,423 shares of the company's stock, valued at $1,014,554.61. This represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,000 shares of company stock valued at $15,926,000. 3.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CNM has been the subject of several recent analyst reports. Bank of America dropped their price objective on Core & Main from $38.00 to $34.00 and set an "underperform" rating for the company in a research note on Thursday, September 5th. Wells Fargo & Company increased their target price on shares of Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. The Goldman Sachs Group boosted their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, December 5th. Barclays raised their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Finally, Loop Capital increased their price target on Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Core & Main has an average rating of "Moderate Buy" and a consensus target price of $58.10.

Core & Main Trading Up 1.3 %

NYSE:CNM traded up $0.70 during trading hours on Monday, hitting $52.91. 1,636,704 shares of the stock were exchanged, compared to its average volume of 2,584,822. The company has a market capitalization of $10.64 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. 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's 50 day moving average is $46.74 and its two-hundred day moving average is $47.69. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 24.71% and a net margin of 5.71%. The firm's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 earnings per share. On average, sell-side analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Core & Main 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.