Loomis Sayles & Co. L P Lowers Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Loomis Sayles & Co. L P reduced its position in Core & Main, Inc. (NYSE:CNM) by 21.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 223,105 shares of the company’s stock after selling 61,678 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Core & Main were worth $11,358,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. 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 worth $41,000 after purchasing an additional 271 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the 3rd quarter valued at about $49,000. Blue Trust Inc. increased its stake in Core & Main by 187.4% in 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 period. Finally, R Squared Ltd bought a new stake in Core & Main in the fourth quarter valued at approximately $78,000. 94.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on CNM shares. Truist Financial lifted their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Barclays upped their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Loop Capital increased their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. One 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, the company has an average rating of “Moderate Buy” and an average target price of $57.30.

Core & Main Stock Down 3.0 %

NYSE:CNM opened at $48.46 on Friday. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a market capitalization of $9.63 billion, a PE ratio of 22.75, a P/E/G ratio of 2.61 and a beta of 1.05. The firm’s 50-day moving average price is $51.87 and its 200-day moving average price is $48.88. 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 (NYSE:CNM) last announced its earnings results 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 the consensus estimate of $1.67 billion. During the same period in the prior year, the business posted $0.34 EPS. Core & Main’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 transaction of $2,524,500.00. Following the completion of the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at $387,106.83. This trade represents a 86.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now directly owns 16,452 shares in the company, valued at $770,282.64. This trade represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,294 shares of company stock valued at $9,383,685. 3.49% of the stock is currently owned by corporate 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.