Core & Main, Inc. (NYSE:CNM) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. lessened its stake in shares of Core & Main, Inc. (NYSE:CNM) by 17.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 424,376 shares of the company’s stock after selling 88,279 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in Core & Main were worth $21,605,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Core & Main by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock worth $84,855,000 after acquiring an additional 122,240 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after purchasing an additional 1,416,907 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in shares of Core & Main during the third quarter worth $774,000. Asset Management One Co. Ltd. boosted its stake in shares of Core & Main by 13.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock valued at $3,331,000 after purchasing an additional 7,565 shares during the period. Finally, Truist Financial Corp boosted its stake in shares of Core & Main by 3.2% in the fourth quarter. Truist Financial Corp now owns 581,845 shares of the company’s stock valued at $29,622,000 after purchasing an additional 17,899 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $49.96 on Friday. The firm’s 50 day moving average is $52.00 and its two-hundred day moving average is $48.74. The firm has a market capitalization of $9.92 billion, a P/E ratio of 23.45, a PEG ratio of 2.61 and a beta of 1.05. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s revenue was up 17.9% compared to the same quarter last year. Analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Truist Financial raised their price objective on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Robert W. Baird decreased their price target 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. Finally, The Goldman Sachs Group increased their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.30.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction that occurred 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 transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now directly owns 16,452 shares of the company’s stock, valued at $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,294 shares of company stock valued at $9,383,685. Company insiders own 3.49% of the company’s stock.

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.