4,364 Shares in Core & Main, Inc. (NYSE:CNM) Purchased by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the fourth quarter, Holdings Channel reports. The firm acquired 4,364 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in shares of Core & Main in the fourth quarter valued at approximately $115,555,000. Norges Bank bought a new stake in shares of Core & Main during the 4th quarter valued at $99,734,000. Impax Asset Management Group plc raised its position in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after acquiring an additional 1,416,907 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Core & Main by 1,259.4% during the 4th quarter. Schroder Investment Management Group now owns 556,891 shares of the company’s stock valued at $28,351,000 after acquiring an additional 515,925 shares during the last quarter. Finally, State Street Corp raised its position in shares of Core & Main by 9.7% during the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after acquiring an additional 489,224 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the sale, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. This trade represents a 86.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the sale, the president now owns 16,010 shares in the company, valued at $808,505. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,257 shares of company stock worth $11,501,977. Corporate insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

Shares of NYSE:CNM opened at $49.05 on Thursday. The company’s 50 day moving average price is $50.05 and its two-hundred day moving average price is $49.20. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The firm has a market cap of $9.71 billion, a PE ratio of 23.03, a PEG ratio of 2.61 and a beta of 1.05. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 EPS. Equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target 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. Royal Bank of Canada reduced their target price on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Robert W. Baird reduced their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Citigroup upped their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $57.55.

About Core & Main

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.