KBC Group NV Increases Stock Position in Core & Main, Inc. (NYSE:CNM)

KBC Group NV increased its holdings in Core & Main, Inc. (NYSE:CNM) by 20.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,639,138 shares of the company’s stock after buying an additional 280,183 shares during the period. KBC Group NV owned 0.83% of Core & Main worth $83,449,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Quest Partners LLC lifted its holdings in Core & Main by 1,195,600.0% during the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock worth $531,000 after purchasing an additional 11,956 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in Core & Main by 2.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock valued at $74,979,000 after purchasing an additional 44,282 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Core & Main during the 3rd quarter valued at $774,000. South Street Advisors LLC increased its holdings in shares of Core & Main by 36.0% in the third quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock worth $10,396,000 after purchasing an additional 61,962 shares during the period. Finally, Douglass Winthrop Advisors LLC increased its holdings in shares of Core & Main by 23.3% in the third quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock worth $3,120,000 after purchasing an additional 13,263 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Performance

Core & Main stock opened at $56.41 on Monday. The firm has a fifty day simple moving average of $51.39 and a two-hundred day simple moving average of $48.22. 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, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a market capitalization of $11.21 billion, a PE ratio of 26.49, a P/E/G ratio of 3.16 and a beta of 1.02.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 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 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. Research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wells Fargo & Company raised their price target on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Barclays boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Citigroup raised their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Robert W. Baird upped their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Insiders Place Their Bets

In other news, President Bradford A. Cowles sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the transaction, the president now owns 18,423 shares in the company, valued at approximately $1,014,554.61. This trade represents a 73.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 427,426 shares of company stock valued at $22,923,825 in the last ninety days. Company insiders own 3.49% of the company’s stock.

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.