Bellecapital International Ltd. Acquires Shares of 10,865 Core & Main, Inc. (NYSE:CNM)

Bellecapital International Ltd. acquired a new stake in shares of Core & Main, Inc. (NYSE:CNMFree Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,865 shares of the company’s stock, valued at approximately $439,000.

A number of other large investors have also recently added to or reduced their stakes in CNM. Norges Bank bought a new position in Core & Main during the 4th quarter valued at $108,023,000. Morgan Stanley boosted its stake in Core & Main by 423.6% during the 4th quarter. Morgan Stanley now owns 3,526,994 shares of the company’s stock valued at $68,106,000 after acquiring an additional 2,853,438 shares during the last quarter. FMR LLC raised its holdings in shares of Core & Main by 51.1% during the third quarter. FMR LLC now owns 7,865,719 shares of the company’s stock worth $226,926,000 after purchasing an additional 2,660,097 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Core & Main during the fourth quarter worth $91,771,000. Finally, Robeco Schweiz AG acquired a new stake in shares of Core & Main during the first quarter worth $51,950,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Up 0.8 %

Core & Main stock opened at $57.25 on Monday. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.85 and a beta of 1.11. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average price is $47.42 and its two-hundred day moving average price is $38.91. Core & Main, Inc. has a 52 week low of $21.75 and a 52 week high of $58.26.

Core & Main (NYSE:CNMGet Free Report) last released its earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. Core & Main’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, analysts expect that Core & Main, Inc. will post 2.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CNM. Royal Bank of Canada increased their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Citigroup increased their target price on shares of Core & Main from $48.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group increased their target price on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Barclays increased their price objective on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Check Out Our Latest Analysis on Core & Main

Insider Activity

In other news, VP Jeffrey D. Giles sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $40.64, for a total transaction of $1,625,600.00. Following the completion of the transaction, the vice president now owns 8,217 shares in the company, valued at approximately $333,938.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Core & Main news, VP Jeffrey D. Giles sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $40.64, for a total value of $1,625,600.00. Following the completion of the transaction, the vice president now directly owns 8,217 shares in the company, valued at $333,938.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John Weldon Stephens sold 1,100 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00. Following the completion of the transaction, the vice president now owns 3,468 shares of the company’s stock, valued at $173,469.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,334,043 shares of company stock worth $1,836,262,410. Corporate insiders own 3.49% of the company’s stock.

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.

Further Reading

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

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