Corebridge Financial Inc. Sells 10,182 Shares of Core & Main, Inc. (NYSE:CNM)

Corebridge Financial Inc. lessened its position in shares of Core & Main, Inc. (NYSE:CNM) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,427 shares of the company’s stock after selling 10,182 shares during the period. Corebridge Financial Inc. owned 0.11% of Core & Main worth $11,171,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Core & Main by 7.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock worth $84,855,000 after acquiring an additional 122,240 shares in the last quarter. Impax Asset Management Group plc grew its stake in Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after purchasing an additional 1,416,907 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in Core & Main in the third quarter worth approximately $774,000. Asset Management One Co. Ltd. lifted its stake in Core & Main by 13.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock valued at $3,331,000 after buying an additional 7,565 shares during the period. Finally, Truist Financial Corp lifted its stake in Core & Main by 3.2% in the fourth quarter. Truist Financial Corp now owns 581,845 shares of the company’s stock valued at $29,622,000 after buying an additional 17,899 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the completion of the transaction, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. This represents a 86.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Schaller sold 60,452 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the sale, the executive vice president now directly owns 17,898 shares of the company’s stock, valued at approximately $905,101.86. This represents a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,294 shares of company stock worth $9,383,685. Insiders own 3.49% of the company’s stock.

Core & Main Stock Down 0.0 %

Shares of NYSE:CNM opened at $49.50 on Thursday. The business’s 50 day moving average is $52.10 and its 200 day moving average is $48.73. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of 23.24, 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.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. Core & Main’s revenue was up 17.9% compared to the same quarter last year. On average, sell-side analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNM has been the subject of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday. Royal Bank of Canada decreased their price target on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday. Truist Financial increased their price objective on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Loop Capital increased their price target on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.30.

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.