Charles Schwab Investment Management Inc. Has $86.07 Million Stake in Core & Main, Inc. (NYSE:CNM)

Charles Schwab Investment Management Inc. increased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,781,525 shares of the company’s stock after purchasing an additional 114,760 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.90% of Core & Main worth $86,065,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC lifted its stake in Core & Main by 447.1% in the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after acquiring an additional 532 shares during the last quarter. Rossby Financial LCC acquired a new stake in Core & Main in the first quarter valued at $37,000. CWM LLC lifted its stake in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after acquiring an additional 213 shares during the last quarter. Versant Capital Management Inc lifted its stake in Core & Main by 1,491.8% in the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock valued at $56,000 after acquiring an additional 1,089 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new stake in Core & Main in the fourth quarter valued at $75,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Transactions at Core & Main

In other Core & Main news, insider Stephen O. Leclair sold 80,028 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $62.27, for a total value of $4,983,343.56. Following the transaction, the insider directly owned 70,736 shares of the company’s stock, valued at $4,404,730.72. This trade represents a 53.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James G. Castellano sold 43,994 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of the transaction, the director directly owned 4,638 shares in the company, valued at approximately $287,463.24. This represents a 90.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 428,445 shares of company stock worth $26,045,755. Corporate insiders own 3.53% of the company’s stock.

Core & Main Price Performance

NYSE:CNM opened at $65.46 on Wednesday. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $65.97. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 1.88 and a beta of 1.04. The firm’s 50-day simple moving average is $61.22 and its 200 day simple moving average is $54.76. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the firm earned $0.49 EPS. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on CNM shares. Citigroup increased their price target on shares of Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. Loop Capital reiterated a “hold” rating and issued a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. JPMorgan Chase & Co. increased their price objective on shares of Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th. Royal Bank Of Canada increased their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company increased their price objective on shares of Core & Main from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $60.00.

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.