Core & Main, Inc. (NYSE:CNM) Stake Lowered by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina trimmed its position in shares of Core & Main, Inc. (NYSE:CNM) by 16.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 84,361 shares of the company’s stock after selling 16,221 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Core & Main were worth $4,295,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CNM. US Bancorp DE raised its stake in shares of Core & Main by 12.3% during the 4th quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after purchasing an additional 197 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in Core & Main by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after acquiring an additional 258 shares in the last quarter. Avior Wealth Management LLC lifted its stake in Core & Main by 51.3% in the fourth 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. Quadrant Capital Group LLC grew its position in Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after acquiring an additional 278 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Core & Main by 5.1% during the 4th 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. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Activity

In other Core & Main news, President Bradford A. Cowles sold 25,000 shares of Core & Main stock in a transaction 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 transaction, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. The trade was a 60.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction 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 in the company, valued at $207,977.60. The trade was a 91.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,831 shares of company stock worth $4,504,152. Insiders own 3.49% of the company’s stock.

Core & Main Stock Up 0.4 %

Shares of CNM opened at $49.51 on Wednesday. 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 stock has a market cap of $9.80 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company has a 50-day moving average price of $49.55 and a two-hundred day moving average price of $49.31.

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

Analyst Upgrades and Downgrades

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