Barclays PLC Sells 96,434 Shares of Core & Main, Inc. (NYSE:CNM)

Barclays PLC lowered its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 27.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,909 shares of the company’s stock after selling 96,434 shares during the quarter. Barclays PLC owned about 0.12% of Core & Main worth $11,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Select Equity Group L.P. raised its holdings in Core & Main by 0.3% during the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after buying an additional 39,475 shares in the last quarter. FMR LLC raised 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 valued at $386,151,000 after acquiring an additional 1,903,280 shares in the last quarter. State Street Corp lifted its holdings in Core & Main by 9.7% in the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after purchasing an additional 489,224 shares during the last quarter. Pacer Advisors Inc. boosted its position in Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after purchasing an additional 41,521 shares during the period. Finally, Royal London Asset Management Ltd. grew its holdings in Core & Main by 39.9% during 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 last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Bank of America decreased their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Robert W. Baird lifted their price objective on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their target price on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Truist Financial lifted their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. One investment 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, Core & Main currently has an average rating of “Moderate Buy” and an average target price of $58.10.

Insider Buying and Selling

In related news, EVP Jeffrey D. Giles sold 25,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total transaction of $1,367,750.00. Following the completion of the sale, the executive vice president now owns 11,615 shares in the company, valued at $635,456.65. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Margaret Newman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the transaction, the director now owns 11,769 shares in the company, valued at approximately $650,237.25. This trade represents a 56.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,000 shares of company stock worth $15,926,000 in the last 90 days. 3.49% of the stock is owned by company insiders.

Core & Main Trading Up 1.3 %

Shares of Core & Main stock opened at $52.91 on Tuesday. The company’s fifty day moving average price is $46.74 and its two-hundred day moving average price is $47.69. The firm has a market capitalization of $10.64 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

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

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.