Corebridge Financial Inc. Sells 10,182 Shares of Core & Main, Inc. (NYSE:CNM)

Corebridge Financial Inc. trimmed its position in shares of Core & Main, Inc. (NYSE:CNM) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,427 shares of the company’s stock after selling 10,182 shares during the period. Corebridge Financial Inc.’s holdings in Core & Main were worth $11,171,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Avior Wealth Management LLC grew its stake in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 271 shares during the period. UMB Bank n.a. lifted its holdings in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Core & Main during the third quarter worth about $49,000. Blue Trust Inc. increased its stake in shares of Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after purchasing an additional 830 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Core & Main in the fourth quarter valued at approximately $78,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the completion of the sale, the president now owns 16,010 shares of the company’s stock, valued at approximately $808,505. This trade represents a 43.84 % decrease in their position. The transaction 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 company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the transaction, the executive vice president now directly owns 16,452 shares in the company, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,294 shares of company stock worth $9,383,685. Corporate insiders own 3.49% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CNM. Truist Financial raised their price objective on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Loop Capital lifted their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company increased their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada cut their price objective on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.30.

Core & Main Stock Performance

Core & Main stock opened at $49.50 on Thursday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock’s 50 day moving average is $52.10 and its 200 day moving average is $48.73. 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 $9.83 billion, a P/E ratio of 23.24, a PEG ratio of 2.61 and a beta of 1.05.

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