Invesco Ltd. Grows Holdings in Core & Main, Inc. (NYSE:CNM)

Invesco Ltd. increased its holdings in Core & Main, Inc. (NYSE:CNM) by 0.8% in the 4th quarter, Holdings Channel reports. The fund owned 5,926,569 shares of the company’s stock after buying an additional 44,513 shares during the quarter. Invesco Ltd.’s holdings in Core & Main were worth $301,722,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC grew its stake in shares of Core & Main by 51.3% in the fourth 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 last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the 3rd quarter valued at about $49,000. UMB Bank n.a. increased its stake in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after buying an additional 278 shares during the last quarter. Finally, Blue Trust Inc. lifted 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 buying an additional 830 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNM has been the subject of several analyst reports. Robert W. Baird reduced their price target on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company lifted their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Citigroup upped their price target on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Royal Bank of Canada reduced 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, March 26th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a “buy” rating and a $60.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.55.

Insiders Place Their Bets

In other news, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total value of $675,875.00. Following the completion of the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $865,660.70. This represents a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main 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 transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This trade represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,305 shares of company stock worth $5,289,169 over the last quarter. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Stock Performance

CNM opened at $48.17 on Friday. The company’s 50 day moving average is $49.89 and its 200 day moving average is $49.23. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a market cap of $9.53 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

Core & Main (NYSE:CNM) last issued its quarterly earnings data 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). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm earned $0.34 EPS. The company’s revenue was up 17.9% on a year-over-year basis. On average, equities research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Core & Main Company 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.