Loomis Sayles & Co. L P Sells 61,678 Shares of Core & Main, Inc. (NYSE:CNM)

Loomis Sayles & Co. L P trimmed its holdings in Core & Main, Inc. (NYSE:CNM) by 21.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,105 shares of the company’s stock after selling 61,678 shares during the period. Loomis Sayles & Co. L P owned about 0.11% of Core & Main worth $11,358,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CNM. Intech Investment Management LLC purchased a new position in shares of Core & Main during the third quarter valued at approximately $541,000. Cerity Partners LLC grew its stake in shares of Core & Main by 53.9% in the 3rd 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 grew its stake in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares in the last quarter. MetLife Investment Management LLC raised its holdings in shares of Core & Main by 11.0% in the third quarter. MetLife Investment Management LLC now owns 105,427 shares of the company’s stock valued at $4,681,000 after purchasing an additional 10,413 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Core & Main by 11.6% during the third 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 in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the sale, the general counsel now directly owns 7,667 shares in the company, valued at $423,908.43. This represents a 20.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares of the company’s stock, valued at $770,282.64. This trade represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,294 shares of company stock valued at $9,383,685. Corporate insiders own 3.49% of the company’s stock.

Core & Main Price Performance

CNM opened at $48.46 on Friday. The firm has a 50-day moving average price of $51.87 and a 200-day moving average price of $48.88. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last released its quarterly earnings data 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). The business had revenue of $1.70 billion during 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 firm’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Equities analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial increased their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Barclays lifted 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. Citigroup upped their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Royal Bank of Canada lowered their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Robert W. Baird reduced their price target on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.