Schroder Investment Management Group Purchases 515,925 Shares of Core & Main, Inc. (NYSE:CNM)

Schroder Investment Management Group lifted its holdings in Core & Main, Inc. (NYSE:CNM) by 1,259.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 556,891 shares of the company’s stock after purchasing an additional 515,925 shares during the quarter. Schroder Investment Management Group’s holdings in Core & Main were worth $28,351,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new stake in shares of Core & Main in the 4th quarter worth about $1,227,000. Norges Bank purchased a new position in Core & Main in the fourth quarter worth about $99,734,000. Caisse Des Depots ET Consignations purchased a new position in Core & Main in the fourth quarter worth about $999,000. JPMorgan Chase & Co. raised its position in Core & Main by 0.3% during the fourth quarter. JPMorgan Chase & Co. now owns 2,847,032 shares of the company’s stock valued at $144,942,000 after purchasing an additional 7,633 shares during the period. Finally, United Services Automobile Association lifted its stake in shares of Core & Main by 7.9% in the 4th quarter. United Services Automobile Association now owns 12,332 shares of the company’s stock valued at $628,000 after purchasing an additional 907 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Insider Activity at Core & Main

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

Core & Main Price Performance

CNM opened at $50.92 on Thursday. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 23.91, 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. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The business’s fifty day simple moving average is $51.46 and its 200-day simple moving average is $49.08.

Core & Main (NYSE:CNM) last issued its earnings results 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 business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The firm’s revenue was up 17.9% on a year-over-year basis. On average, equities research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNM has been the topic of several analyst reports. Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Robert W. Baird reduced their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday. They set a “buy” rating and a $60.00 price target for the company. 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. Finally, Barclays boosted their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.55.

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.