Core & Main, Inc. (NYSE:CNM) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. boosted its holdings in Core & Main, Inc. (NYSE:CNM) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,384,886 shares of the company’s stock after acquiring an additional 81,706 shares during the period. American Century Companies Inc. owned 0.70% of Core & Main worth $70,505,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CNM. Avior Wealth Management LLC lifted its stake in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main in the 3rd quarter valued at about $49,000. UMB Bank n.a. boosted its stake in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after buying an additional 684 shares during the period. Blue Trust Inc. increased its position in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after acquiring an additional 830 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Core & Main in the 4th quarter valued at approximately $78,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CNM shares. Wells Fargo & Company increased their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Loop Capital lifted their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays raised their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Insider Activity

In other news, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.50, for a total transaction of $631,250.00. Following the sale, the president now owns 16,010 shares in the company, valued at $808,505. This represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is currently owned by insiders.

Core & Main Price Performance

Shares of Core & Main stock opened at $49.64 on Wednesday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a 50 day moving average of $52.19 and a 200 day moving average of $48.72. 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 $9.86 billion, a P/E ratio of 23.31, a P/E/G 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 (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm posted $0.34 earnings per share. Core & Main’s revenue for the quarter was up 17.9% on a year-over-year basis. As a group, research analysts forecast 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.