Core & Main, Inc. (NYSE:CNM) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP raised its stake in shares of Core & Main, Inc. (NYSE:CNM) by 38.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,328,182 shares of the company’s stock after purchasing an additional 923,287 shares during the quarter. First Trust Advisors LP’s holdings in Core & Main were worth $169,438,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CNM. Avior Wealth Management LLC raised its position in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main in the 3rd quarter worth about $49,000. 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 purchasing an additional 684 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after purchasing an additional 278 shares during the period. Finally, Blue Trust Inc. increased its position in Core & Main by 187.4% during 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 in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CNM shares. Citigroup lifted their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Royal Bank of Canada reduced their target price on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price target for the company. Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.55.

Insider Transactions at Core & Main

In related news, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was 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 approximately $770,282.64. This represents a 57.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Bradford A. Cowles sold 25,000 shares of the firm’s 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 transaction, the president now owns 16,010 shares in the company, valued at $872,224.80. This trade represents a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,831 shares of company stock valued at $4,504,152. Insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

Shares of CNM opened at $49.59 on Friday. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 23.28, 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. The business’s 50 day moving average is $49.23 and its two-hundred day moving average is $49.42. 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 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 company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. Analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Core & Main 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.