Schroder Investment Management Group Boosts Holdings in Core & Main, Inc. (NYSE:CNM)

Schroder Investment Management Group increased its position in Core & Main, Inc. (NYSE:CNM) by 1,259.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 556,891 shares of the company’s stock after purchasing an additional 515,925 shares during the period. Schroder Investment Management Group owned approximately 0.28% of Core & Main worth $28,351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Core & Main by 7.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock valued at $84,855,000 after purchasing an additional 122,240 shares in the last quarter. Impax Asset Management Group plc raised its position in Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after buying an additional 1,416,907 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Core & Main during the 3rd quarter valued at about $774,000. Asset Management One Co. Ltd. boosted its holdings in shares of Core & Main by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock valued at $3,331,000 after acquiring an additional 7,565 shares during the last quarter. Finally, Truist Financial Corp grew its stake in shares of Core & Main by 3.2% in the fourth quarter. Truist Financial Corp now owns 581,845 shares of the company’s stock worth $29,622,000 after acquiring an additional 17,899 shares during the period. 94.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the stock in a transaction that occurred 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 $770,282.64. This trade represents a 57.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at $808,505. This trade represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is owned by corporate insiders.

Core & Main Price Performance

Shares of NYSE:CNM opened at $50.92 on Thursday. The company has a market capitalization of $10.12 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The firm’s 50 day simple moving average is $51.46 and its two-hundred day simple moving average is $49.08. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. Research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CNM. Royal Bank of Canada lowered their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Wells Fargo & Company increased their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird lowered their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, Loop Capital boosted their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus target price of $57.55.

About Core & Main

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.