Nomura Holdings Inc. Sells 24,938 Shares of Core & Main, Inc. (NYSE:CNM)

Nomura Holdings Inc. reduced its position in Core & Main, Inc. (NYSE:CNM) by 49.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,562 shares of the company’s stock after selling 24,938 shares during the quarter. Nomura Holdings Inc.’s holdings in Core & Main were worth $1,301,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CNM. Raymond James Financial Inc. bought a new position in Core & Main in the 4th quarter valued at about $115,555,000. Norges Bank bought a new position in Core & Main in the 4th quarter valued at about $99,734,000. Impax Asset Management Group plc increased its holdings 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 valued at $174,661,000 after buying an additional 1,416,907 shares during the period. Federated Hermes Inc. increased its holdings in Core & Main by 4,757.9% in the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company’s stock valued at $57,953,000 after buying an additional 1,114,913 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Core & Main by 38.4% during the 4th quarter. First Trust Advisors LP now owns 3,328,182 shares of the company’s stock valued at $169,438,000 after purchasing an additional 923,287 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CNM. Robert W. Baird decreased their price target on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Royal Bank of Canada decreased their price target on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.55.

Insider Transactions at Core & Main

In other news, CAO John Weldon Stephens sold 10,214 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at approximately $218,442.40. The trade was a 71.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares in the company, valued at $770,282.64. This trade represents a 57.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,045 shares of company stock worth $3,683,698. Company insiders own 3.49% of the company’s stock.

Core & Main Trading Up 3.1%

CNM opened at $54.14 on Friday. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $61.33. 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 firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.61 and a beta of 1.04. The company’s 50 day moving average price is $49.85 and its two-hundred day moving average price is $50.47.

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

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.