Truist Financial Corp Purchases 17,899 Shares of Core & Main, Inc. (NYSE:CNM)

Truist Financial Corp lifted its position in shares of Core & Main, Inc. (NYSE:CNM) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 581,845 shares of the company’s stock after purchasing an additional 17,899 shares during the quarter. Truist Financial Corp owned about 0.29% of Core & Main worth $29,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its position in shares of Core & Main by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after purchasing an additional 287 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Core & Main during the fourth quarter valued at approximately $201,000. Sheaff Brock Investment Advisors LLC boosted its position in shares of Core & Main by 9.3% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 8,838 shares of the company’s stock valued at $450,000 after purchasing an additional 752 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Core & Main by 10.9% during the fourth quarter. New Mexico Educational Retirement Board now owns 39,600 shares of the company’s stock valued at $2,016,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Trading Up 0.5 %

Shares of NYSE:CNM opened at $54.60 on Wednesday. The company has a market cap of $10.85 billion, a P/E ratio of 25.63, a PEG ratio of 2.75 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The stock’s fifty day moving average price is $53.45 and its 200-day moving average price is $48.62.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’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 business earned $0.65 earnings per share. Sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

CNM has been the topic of several research reports. Robert W. Baird lifted their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Barclays boosted their target price on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Finally, Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Insider Activity at Core & Main

In related news, CEO Stephen O. Leclair sold 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was 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 in the company, valued at approximately $5,068,113.12. This represents a 68.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This trade represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 452,426 shares of company stock worth $24,285,825. 3.49% of the stock is owned by insiders.

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.