American International Group Inc. Acquires 183,684 Shares of Core & Main, Inc. (NYSE:CNM)

American International Group Inc. lifted its holdings in Core & Main, Inc. (NYSE:CNMFree Report) by 20,185.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 184,594 shares of the company’s stock after buying an additional 183,684 shares during the quarter. American International Group Inc. owned about 0.09% of Core & Main worth $7,459,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Core & Main by 14.3% in the third 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 during the last quarter. FMR LLC increased its position in Core & Main by 51.1% in 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. Handelsbanken Fonder AB increased its position in Core & Main by 180.1% in the fourth quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock worth $109,405,000 after purchasing an additional 1,740,685 shares during the period. Invesco Ltd. increased its position in Core & Main by 22.7% in 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 during the period. Finally, First Trust Advisors LP increased its position in Core & Main by 2.8% in the fourth quarter. First Trust Advisors LP now owns 2,403,921 shares of the company’s stock worth $97,142,000 after purchasing an additional 66,575 shares during the period. 94.19% of the stock is owned by institutional investors.

Core & Main Trading Up 0.3 %

NYSE CNM opened at $47.51 on Monday. Core & Main, Inc. has a 52 week low of $27.06 and a 52 week high of $62.15. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 22.20, a PEG ratio of 1.67 and a beta of 1.12. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.30 and a current ratio of 2.14. The stock’s 50 day moving average price is $57.22 and its two-hundred day moving average price is $48.30.

Core & Main (NYSE:CNMGet Free Report) last announced its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, analysts anticipate that Core & Main, Inc. will post 2.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CNM shares. Royal Bank of Canada restated an “outperform” rating and set a $60.00 target price on shares of Core & Main in a research report on Wednesday, June 5th. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Truist Financial cut their price objective on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. Barclays lifted their price objective on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.08.

View Our Latest Stock Report on Core & Main

Insider Transactions at Core & Main

In other news, CAO John Weldon Stephens sold 5,503 shares of the company’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 transaction of $298,427.69. Following the sale, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $232,158.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Mark R. Witkowski sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at approximately $1,398,271.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chief accounting officer now directly owns 4,281 shares in the company, valued at $232,158.63. The disclosure for this sale can be found here. Insiders have sold a total of 230,000 shares of company stock worth $13,191,217 in the last 90 days. Corporate insiders own 3.49% of the company’s stock.

About Core & Main

(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.

See Also

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

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