149,661 Shares in Core & Main, Inc. (NYSE:CNM) Bought by Bell Asset Management Ltd

Bell Asset Management Ltd acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 149,661 shares of the company’s stock, valued at approximately $7,619,000. Core & Main makes up about 1.4% of Bell Asset Management Ltd’s portfolio, making the stock its 18th largest holding.

A number of other large investors have also recently made changes to their positions in CNM. Captrust Financial Advisors boosted its stake in Core & Main by 11.6% during the 3rd quarter. Captrust Financial Advisors now owns 29,444 shares of the company’s stock valued at $1,307,000 after purchasing an additional 3,066 shares during the last quarter. State Street Corp raised its position in Core & Main by 9.7% in the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after buying an additional 489,224 shares during the last quarter. XTX Topco Ltd bought a new position in Core & Main during the 3rd quarter valued at $1,391,000. Public Employees Retirement System of Ohio boosted its holdings in Core & Main by 10.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 125,473 shares of the company’s stock worth $5,571,000 after acquiring an additional 11,427 shares during the last quarter. Finally, Vestcor Inc grew its stake in shares of Core & Main by 233.9% in the 3rd quarter. Vestcor Inc now owns 16,026 shares of the company’s stock worth $712,000 after acquiring an additional 11,227 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Core & Main

In related news, CAO John Weldon Stephens sold 41,963 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,120 shares in the company, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total value 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 represents 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 sold 226,257 shares of company stock valued at $11,501,977. Corporate insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Core & Main stock opened at $46.12 on Monday. The firm has a market capitalization of $9.13 billion, a P/E ratio of 21.65, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. 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 business has a fifty day moving average price of $51.06 and a 200-day moving average price of $49.19.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share 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 company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period in the previous year, the firm earned $0.34 EPS. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. As a group, equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS 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.