Allianz Asset Management GmbH Has $40.90 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Allianz Asset Management GmbH lifted its position in shares of Core & Main, Inc. (NYSE:CNM) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 803,453 shares of the company’s stock after purchasing an additional 15,404 shares during the quarter. Allianz Asset Management GmbH’s holdings in Core & Main were worth $40,904,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Core & Main by 28.0% during the 3rd 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 in the last quarter. State Street Corp grew its holdings in shares of Core & Main by 9.7% during 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 in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Core & Main by 1.0% during the 3rd 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 in the last quarter. Royal London Asset Management Ltd. grew its holdings in shares of Core & Main by 39.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after purchasing an additional 1,073,451 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Core & Main by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,261,964 shares of the company’s stock worth $144,869,000 after purchasing an additional 412,520 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CNM. Loop Capital boosted their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird boosted their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Barclays boosted their price target on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Truist Financial boosted their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Insider Buying and Selling at Core & Main

In other news, President Bradford A. Cowles sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the sale, the president now owns 18,423 shares in the company, valued at $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total value of $10,976,000.00. Following the sale, the chief executive officer now owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 452,426 shares of company stock worth $24,285,825. 3.49% of the stock is currently owned by insiders.

Core & Main Trading Down 2.8 %

Shares of CNM opened at $50.97 on Friday. The stock has a fifty day moving average price of $53.44 and a two-hundred day moving average price of $48.71. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a market cap of $10.13 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.61 and a beta of 1.03.

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

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.