Core & Main, Inc. (NYSE:CNM) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Core & Main, Inc. (NYSE:CNM) by 12.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 150,423 shares of the company’s stock after acquiring an additional 16,589 shares during the period. Envestnet Asset Management Inc. owned approximately 0.08% of Core & Main worth $7,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNM. US Bancorp DE increased its position in shares of Core & Main by 12.3% during the 4th quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after purchasing an additional 197 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in Core & Main by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $286,000 after buying an additional 258 shares during the period. Avior Wealth Management LLC increased its position in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after acquiring an additional 271 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Core & Main by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after acquiring an additional 287 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of Core & Main by 0.6% in the 4th quarter. Arizona State Retirement System now owns 55,910 shares of the company’s stock worth $2,846,000 after acquiring an additional 360 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

Core & Main Trading Up 1.9 %

NYSE CNM opened at $49.59 on Friday. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The firm has a 50 day moving average of $49.23 and a two-hundred day moving average of $49.42. The stock has a market capitalization of $9.81 billion, a PE ratio of 23.28, a price-to-earnings-growth 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 earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS. As a group, research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now directly owns 4,120 shares in the company, valued at $207,977.60. This trade represents a 91.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company’s stock, valued at approximately $770,282.64. This trade represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,831 shares of company stock worth $4,504,152 over the last 90 days. 3.49% of the stock is owned by insiders.

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.