Core & Main, Inc. (NYSE:CNM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 37.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 798,054 shares of the company’s stock after selling 478,408 shares during the quarter. Victory Capital Management Inc. owned approximately 0.40% of Core & Main worth $39,057,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of Core & Main in the 1st quarter worth approximately $27,000. Quadrant Capital Group LLC boosted its holdings in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares during the period. ORG Partners LLC bought a new position in shares of Core & Main during the first quarter worth about $38,000. Principal Securities Inc. bought a new position in shares of Core & Main during the fourth quarter worth about $43,000. Finally, Quarry LP increased its holdings in shares of Core & Main by 87.0% in the 4th quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after acquiring an additional 888 shares during the period. Institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CNM shares. The Goldman Sachs Group reduced their target price on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial decreased their price objective on Core & Main from $50.00 to $38.00 and set a “hold” rating for the company in a report on Thursday, September 5th. Royal Bank of Canada cut their target price on Core & Main from $60.00 to $53.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. decreased their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, Loop Capital cut their price objective on shares of Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.30.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares in the company, valued at $614,577.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.49% of the company’s stock.

Core & Main Price Performance

NYSE:CNM opened at $38.32 on Tuesday. Core & Main, Inc. has a 52-week low of $27.75 and a 52-week high of $62.15. The company has a quick ratio of 1.34, a current ratio of 2.29 and a debt-to-equity ratio of 1.40. The firm has a market cap of $7.72 billion, a P/E ratio of 17.91, a PEG ratio of 2.41 and a beta of 1.04. The business’s 50-day moving average price is $49.46 and its 200 day moving average price is $52.65.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.58% and a return on equity of 21.91%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter last year, the company posted $0.66 EPS. Core & Main’s revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

About Core & Main

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.