PNC Financial Services Group Inc. Has $27,000 Stake in Core & Main, Inc. (NYSE:CNM)

PNC Financial Services Group Inc. decreased its holdings in Core & Main, Inc. (NYSE:CNMFree Report) by 45.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 677 shares of the company’s stock after selling 560 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Core & Main were worth $27,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System raised its position in shares of Core & Main by 18.0% during the third quarter. California State Teachers Retirement System now owns 123,396 shares of the company’s stock worth $3,560,000 after acquiring an additional 18,820 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Core & Main during the third quarter worth $5,765,000. Ameriprise Financial Inc. grew its stake in shares of Core & Main by 7.4% during the third quarter. Ameriprise Financial Inc. now owns 2,335,056 shares of the company’s stock worth $67,366,000 after purchasing an additional 159,931 shares during the period. Phoenix Holdings Ltd. grew its stake in shares of Core & Main by 18.3% during the third quarter. Phoenix Holdings Ltd. now owns 8,986 shares of the company’s stock worth $262,000 after purchasing an additional 1,392 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Core & Main by 14.3% during the third quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company’s stock worth $273,812,000 after purchasing an additional 1,187,700 shares during the period. Institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the transaction, the general counsel now owns 12,933 shares in the company, valued at approximately $699,416.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CAO John Weldon Stephens sold 9,497 shares of Core & Main stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.19, for a total value of $524,139.43. Following the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $236,268.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction on Friday, April 19th. The shares were sold at an average price of $54.08, for a total value of $2,704,000.00. Following the completion of the transaction, the general counsel now owns 12,933 shares in the company, valued at approximately $699,416.64. The disclosure for this sale can be found here. Insiders have sold a total of 115,000 shares of company stock worth $6,501,567 in the last 90 days. Company insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

NYSE:CNM opened at $49.73 on Tuesday. The stock has a market cap of $10.02 billion, a P/E ratio of 23.24, a PEG ratio of 1.83 and a beta of 1.06. The stock has a 50 day simple moving average of $54.25 and a 200 day simple moving average of $50.15. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Core & Main, Inc. has a 1-year low of $27.75 and a 1-year high of $62.15.

Core & Main (NYSE:CNMGet Free Report) last released its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. Research analysts anticipate that Core & Main, Inc. will post 2.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Core & Main in a research note on Wednesday, June 5th. Truist Financial lowered their price target on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a report on Wednesday, June 5th. Loop Capital increased their price objective on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $63.00 to $64.00 in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. increased their price objective on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.90.

Read Our Latest Stock Analysis on Core & Main

Core & Main Company 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.

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

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