National Bank of Canada FI Has $600,000 Stock Position in Core & Main, Inc. (NYSE:CNM)

National Bank of Canada FI lowered its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 6.5% during the third quarter, Holdings Channel reports. The firm owned 13,514 shares of the company’s stock after selling 939 shares during the period. National Bank of Canada FI’s holdings in Core & Main were worth $600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CNM. Spruce House Investment Management LLC lifted its holdings in Core & Main by 400.0% in the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock worth $66,600,000 after purchasing an additional 1,200,000 shares during the last quarter. 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. Royal London Asset Management Ltd. raised its position 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 valued at $167,029,000 after purchasing an additional 1,073,451 shares during the period. Redwood Investment Management LLC lifted its stake in shares of Core & Main by 4.1% in the third quarter. Redwood Investment Management LLC now owns 29,488 shares of the company’s stock worth $1,350,000 after buying an additional 1,164 shares during the last quarter. Finally, PointState Capital LP bought a new stake in shares of Core & Main during the 3rd quarter worth $100,013,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Activity

In other Core & Main news, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the transaction, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Margaret Newman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the sale, the director now directly owns 11,769 shares in the company, valued at approximately $650,237.25. The trade was a 56.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,000 shares of company stock worth $15,926,000. Company insiders own 3.49% of the company’s stock.

Core & Main Trading Down 0.4 %

Shares of Core & Main stock opened at $52.21 on Monday. 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 $10.50 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. 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 $46.53 and its two-hundred day moving average price is $47.72.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Bank of America dropped their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a report on Thursday, September 5th. Loop Capital boosted their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed 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. Barclays upped their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price objective on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.10.

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.