Fifth Third Wealth Advisors LLC Acquires 258 Shares of Core & Main, Inc. (NYSE:CNM)

Fifth Third Wealth Advisors LLC increased its holdings in Core & Main, Inc. (NYSE:CNM) by 4.8% in the fourth quarter, HoldingsChannel reports. The firm owned 5,616 shares of the company’s stock after purchasing an additional 258 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Core & Main were worth $286,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CNM. Select Equity Group L.P. boosted its stake in shares of Core & Main by 0.3% during the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock worth $754,986,000 after acquiring an additional 39,475 shares in the last quarter. FMR LLC boosted its position in Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after purchasing an additional 1,903,280 shares during the period. State Street Corp grew its holdings in Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after purchasing an additional 489,224 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Core & Main by 1.0% in the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock valued at $188,710,000 after purchasing an additional 41,521 shares during the period. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Core & Main by 39.9% in the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after buying an additional 1,073,451 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Trading Up 0.6 %

Shares of Core & Main stock opened at $55.21 on Friday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The firm has a market capitalization of $10.97 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02. 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 company’s fifty day moving average price is $49.74 and its two-hundred day moving average price is $47.92.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 earnings per share. On average, analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

CNM has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 target price (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Loop Capital increased their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays raised their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird increased their price objective on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Truist Financial boosted their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Insider Buying and Selling

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. This trade represents a 20.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey D. Giles sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the sale, the executive vice president now directly owns 11,615 shares in the company, valued at $635,456.65. This represents a 68.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,426 shares of company stock worth $22,923,825 in the last 90 days. 3.49% of the stock is owned by company insiders.

Core & Main Company Profile

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.