Vontobel Holding Ltd. Sells 15,847 Shares of Core & Main, Inc. (NYSE:CNM)

Vontobel Holding Ltd. lowered its holdings in Core & Main, Inc. (NYSE:CNM) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 131,405 shares of the company’s stock after selling 15,847 shares during the quarter. Vontobel Holding Ltd.’s holdings in Core & Main were worth $5,310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Renaissance Capital LLC boosted its holdings in Core & Main by 59.0% in the 4th quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock valued at $3,458,000 after purchasing an additional 31,740 shares during the period. State of Michigan Retirement System bought a new stake in shares of Core & Main during the 4th quarter worth approximately $1,325,000. Exchange Traded Concepts LLC lifted its holdings in shares of Core & Main by 328.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock worth $3,186,000 after acquiring an additional 60,435 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Core & Main by 4.4% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock worth $70,107,000 after acquiring an additional 73,790 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Core & Main by 1,608.3% during the 3rd quarter. Barclays PLC now owns 541,940 shares of the company’s stock worth $15,634,000 after acquiring an additional 510,216 shares during the period. Institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In other Core & Main news, VP John Weldon Stephens sold 1,100 shares of Core & Main stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $50.02, for a total value of $55,022.00. Following the sale, the vice president now owns 3,468 shares of the company’s stock, valued at $173,469.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $40.98, for a total value of $938,762,258.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John Weldon Stephens sold 1,100 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $50.02, for a total transaction of $55,022.00. Following the completion of the sale, the vice president now directly owns 3,468 shares in the company, valued at approximately $173,469.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,363,315 shares of company stock valued at $960,746,759. Company insiders own 3.49% of the company’s stock.

Core & Main Stock Down 1.3 %

CNM opened at $54.74 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30. The company’s 50-day moving average is $51.50 and its 200 day moving average is $41.44. Core & Main, Inc. has a fifty-two week low of $24.54 and a fifty-two week high of $60.83. The firm has a market capitalization of $11.02 billion, a P/E ratio of 25.46, a PEG ratio of 1.71 and a beta of 1.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Research analysts expect that Core & Main, Inc. will post 2.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CNM. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and upped their price target for the stock from $63.00 to $64.00 in a report on Friday, April 5th. Truist Financial reaffirmed a “hold” rating and set a $38.00 price target on shares of Core & Main in a report on Wednesday, March 20th. Royal Bank of Canada upped their price objective on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. upped their price objective on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Barclays upped their price target on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.08.

Core & Main Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.