Core & Main, Inc. (NYSE:CNM) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in Core & Main, Inc. (NYSE:CNM) by 4.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 542,308 shares of the company’s stock after selling 25,086 shares during the period. Legal & General Group Plc owned 0.27% of Core & Main worth $27,609,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in 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. lifted its position in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the 3rd quarter worth $49,000. Quadrant Capital Group LLC boosted its position in shares of Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after buying an additional 278 shares during the period. Finally, Blue Trust Inc. grew its position in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after acquiring an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insider Activity

In other news, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now owns 16,452 shares in the company, valued at $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total value of $675,875.00. Following the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at $865,660.70. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,305 shares of company stock worth $5,289,169 over the last three months. Corporate insiders own 3.49% of the company’s stock.

Core & Main Stock Up 1.1 %

CNM opened at $48.69 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The stock’s 50 day moving average price is $49.77 and its 200 day moving average price is $49.29. The stock has a market cap of $9.63 billion, a P/E ratio of 22.86, a P/E/G ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share 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 return on equity of 24.71% and a net margin of 5.71%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.34 EPS. As a group, research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

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

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.