Core & Main, Inc. (NYSE:CNM) Position Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 118,144 shares of the company's stock after buying an additional 8,783 shares during the period. Wells Fargo & Company MN owned 0.06% of Core & Main worth $6,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Avior Wealth Management LLC lifted its holdings in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after acquiring an additional 271 shares during the last quarter. UMB Bank n.a. grew its position in shares of 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 in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main during the 3rd quarter worth $49,000. Blue Trust Inc. lifted its stake in shares of 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 purchasing an additional 830 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Core & Main during the 4th quarter worth $78,000. Institutional investors own 94.19% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CNM shares. Royal Bank of Canada cut their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company upped their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Citigroup increased their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Robert W. Baird reduced their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and an average target price of $57.55.

Insiders Place Their Bets

In related news, CAO John Weldon Stephens sold 41,963 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the sale, the chief accounting officer now owns 4,120 shares of the company's stock, valued at approximately $207,977.60. This trade represents a 91.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Bradford A. Cowles sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the sale, the president now directly owns 16,010 shares in the company, valued at approximately $872,224.80. This trade represents a 60.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,831 shares of company stock valued at $4,504,152 in the last quarter. Insiders own 3.49% of the company's stock.

Core & Main Stock Up 2.3 %

Shares of CNM stock traded up $1.18 during trading hours on Thursday, reaching $51.61. The company had a trading volume of 156,433 shares, compared to its average volume of 2,291,092. 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, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a market capitalization of $10.21 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The stock's fifty day simple moving average is $48.95 and its 200 day simple moving average is $49.52.

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

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.