Duff & Phelps Investment Management Co. Trims Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Duff & Phelps Investment Management Co. lowered its stake in shares of Core & Main, Inc. (NYSE:CNM) by 17.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 424,376 shares of the company’s stock after selling 88,279 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.21% of Core & Main worth $21,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in shares of Core & Main during the third quarter worth approximately $541,000. Cerity Partners LLC raised its position in Core & Main by 53.9% in the third quarter. Cerity Partners LLC now owns 31,728 shares of the company’s stock worth $1,409,000 after acquiring an additional 11,118 shares in the last quarter. FMR LLC lifted its holdings in Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the period. MetLife Investment Management LLC boosted its position in shares of Core & Main by 11.0% during the 3rd quarter. MetLife Investment Management LLC now owns 105,427 shares of the company’s stock worth $4,681,000 after purchasing an additional 10,413 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Core & Main by 0.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,556,606 shares of the company’s stock worth $69,113,000 after purchasing an additional 13,867 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Trading Up 0.9 %

Shares of CNM stock opened at $49.96 on Friday. The company has a market capitalization of $9.92 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.61 and a beta of 1.05. 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 firm has a 50-day moving average price of $52.00 and a 200 day moving average price of $48.74. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. Research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the transaction, the president now owns 16,010 shares in the company, valued at $808,505. This trade represents a 43.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Schaller sold 60,452 shares of Core & Main stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now owns 17,898 shares in the company, valued at $905,101.86. The trade was a 77.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,294 shares of company stock worth $9,383,685 over the last quarter. 3.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Loop Capital boosted their price target on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada dropped their price objective on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned 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 $57.30.

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.