826,307 Shares in Core & Main, Inc. (NYSE:CNM) Purchased by KBC Group NV

KBC Group NV acquired a new position in Core & Main, Inc. (NYSE:CNMFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 826,307 shares of the company’s stock, valued at approximately $33,391,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Core & Main by 14.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company’s stock valued at $273,812,000 after buying an additional 1,187,700 shares in the last quarter. FMR LLC grew its holdings in Core & Main by 51.1% during the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company’s stock valued at $226,926,000 after buying an additional 2,660,097 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Core & Main by 180.1% during the 4th quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock valued at $109,405,000 after buying an additional 1,740,685 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Core & Main by 22.7% during the third quarter. Invesco Ltd. now owns 2,493,056 shares of the company’s stock worth $71,925,000 after purchasing an additional 461,393 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Core & Main by 7.4% during the third quarter. Ameriprise Financial Inc. now owns 2,335,056 shares of the company’s stock worth $67,366,000 after purchasing an additional 159,931 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

NYSE:CNM traded down $1.43 during mid-day trading on Monday, reaching $56.13. The stock had a trading volume of 940,020 shares, compared to its average volume of 2,482,908. The firm has a 50 day moving average price of $57.96 and a two-hundred day moving average price of $47.75. The stock has a market capitalization of $11.30 billion, a P/E ratio of 26.77, a P/E/G ratio of 1.78 and a beta of 1.12. Core & Main, Inc. has a one year low of $26.79 and a one year high of $62.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29.

Core & Main (NYSE:CNMGet Free Report) last released its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $0.31 EPS. Core & Main’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, analysts expect that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on CNM. Royal Bank of Canada boosted their price objective on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Barclays boosted their price objective on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Loop Capital boosted their price objective on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Finally, The Goldman Sachs Group boosted their price objective on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.08.

Read Our Latest Stock Analysis on Core & Main

Insider Buying and Selling at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 5,503 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $54.23, for a total value of $298,427.69. Following the completion of the sale, the chief accounting officer now owns 4,281 shares in the company, valued at $232,158.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Core & Main news, CAO John Weldon Stephens sold 5,503 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $54.23, for a total value of $298,427.69. Following the completion of the sale, the chief accounting officer now owns 4,281 shares in the company, valued at $232,158.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark R. Witkowski sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the sale, the chief financial officer now owns 23,898 shares of the company’s stock, valued at approximately $1,398,271.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,900 shares of company stock worth $15,387,095. 3.49% of the stock is currently owned by insiders.

Core & Main Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Core & Main (NYSE:CNM)

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