Core & Main, Inc. (NYSE:CNM) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its stake in Core & Main, Inc. (NYSE:CNM) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,384,886 shares of the company’s stock after purchasing an additional 81,706 shares during the period. American Century Companies Inc.’s holdings in Core & Main were worth $70,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Avior Wealth Management LLC increased its holdings in shares of 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 purchasing an additional 271 shares during the period. UMB Bank n.a. grew its position in 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 buying an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Core & Main in the 3rd quarter valued at $49,000. Blue Trust Inc. raised 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 buying an additional 830 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Core & Main in the 4th quarter worth $78,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Performance

NYSE:CNM opened at $49.64 on Wednesday. The company has a market capitalization of $9.86 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The stock has a fifty day simple moving average of $52.19 and a 200-day simple moving average of $48.72. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last announced 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). 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 analysts’ expectations of $1.67 billion. During the same period last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNM. Wells Fargo & Company boosted their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Robert W. Baird increased their target price on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Truist Financial lifted their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Barclays raised their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Citigroup upped their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Insider Buying and Selling at Core & Main

In other news, President Bradford A. Cowles sold 25,000 shares of Core & Main stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the sale, the president now directly owns 16,010 shares in the company, valued at $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the company’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 transaction, the general counsel now directly owns 7,667 shares in the company, valued at $387,106.83. The trade was a 86.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is owned by insiders.

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.