Core & Main, Inc. (NYSE:CNM) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. lessened its holdings in Core & Main, Inc. (NYSE:CNM) by 14.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,482,742 shares of the company’s stock after selling 252,155 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.74% of Core & Main worth $84,886,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers grew its position in Core & Main by 21.5% during the 3rd quarter. Rhumbline Advisers now owns 118,894 shares of the company’s stock worth $3,430,000 after purchasing an additional 21,047 shares during the period. Acadian Asset Management LLC purchased a new position in Core & Main during the third quarter valued at approximately $392,000. Treasurer of the State of North Carolina raised its stake in shares of Core & Main by 27.8% during the 3rd quarter. Treasurer of the State of North Carolina now owns 47,351 shares of the company’s stock worth $1,366,000 after buying an additional 10,310 shares during the period. California State Teachers Retirement System lifted its position in shares of Core & Main by 18.0% during the 3rd quarter. California State Teachers Retirement System now owns 123,396 shares of the company’s stock valued at $3,560,000 after buying an additional 18,820 shares in the last quarter. Finally, Gotham Asset Management LLC grew its stake in Core & Main by 269.5% in the 3rd quarter. Gotham Asset Management LLC now owns 62,490 shares of the company’s stock valued at $1,803,000 after acquiring an additional 45,578 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Trading Down 0.5 %

CNM stock traded down $0.22 during mid-day trading on Tuesday, hitting $48.20. 55,217 shares of the company were exchanged, compared to its average volume of 2,608,818. Core & Main, Inc. has a 12-month low of $27.75 and a 12-month high of $62.15. The firm has a market capitalization of $9.71 billion, a P/E ratio of 22.62, a PEG ratio of 1.85 and a beta of 1.06. The business has a fifty day simple moving average of $55.04 and a 200-day simple moving average of $49.82. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 EPS. On average, equities research analysts predict that Core & Main, Inc. will post 2.32 earnings per share for the current fiscal year.

Insider Activity

In other Core & Main news, CAO John Weldon Stephens sold 5,503 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $54.23, for a total value of $298,427.69. Following the completion of the transaction, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at approximately $232,158.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Core & Main news, CAO John Weldon Stephens sold 5,503 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.23, for a total transaction of $298,427.69. Following the sale, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $232,158.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction dated 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 sale, the general counsel now directly owns 12,933 shares in the company, valued at approximately $699,416.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,000 shares of company stock valued at $9,427,067. 3.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CNM has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. 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. Loop Capital raised their target price on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $64.00 in a report on Friday, April 5th. Finally, Barclays increased their price target on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and a consensus price target of $52.90.

Core & Main Company Profile

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.