National Bank of Canada FI Sells 773 Shares of Core & Main, Inc. (NYSE:CNM)

National Bank of Canada FI decreased its position in shares of Core & Main, Inc. (NYSE:CNM) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,741 shares of the company’s stock after selling 773 shares during the quarter. National Bank of Canada FI’s holdings in Core & Main were worth $649,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CNM. Raymond James Financial Inc. bought a new stake in Core & Main during the fourth quarter worth about $115,555,000. Norges Bank bought a new stake in Core & Main during the fourth quarter worth about $99,734,000. Impax Asset Management Group plc lifted its position in Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after purchasing an additional 1,416,907 shares during the period. Schroder Investment Management Group lifted its position in Core & Main by 1,259.4% during the fourth quarter. Schroder Investment Management Group now owns 556,891 shares of the company’s stock worth $28,351,000 after purchasing an additional 515,925 shares during the period. Finally, State Street Corp lifted its position in Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after purchasing an additional 489,224 shares during the period. Institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 4,120 shares of the company’s stock, valued at approximately $207,977.60. This represents a 91.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $808,505. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,257 shares of company stock valued at $11,501,977. 3.49% of the stock is currently owned by company insiders.

Core & Main Stock Performance

Core & Main stock opened at $49.05 on Thursday. The business has a 50 day moving average of $50.05 and a 200-day moving average of $49.20. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The company has a market capitalization of $9.71 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. On average, equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Core & Main Company 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.