Core & Main, Inc. $CNM Shares Acquired by Trigran Investments Inc.

Trigran Investments Inc. raised its stake in shares of Core & Main, Inc. (NYSE:CNM) by 275.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 84,661 shares of the company’s stock after purchasing an additional 62,136 shares during the quarter. Core & Main comprises 0.9% of Trigran Investments Inc.’s portfolio, making the stock its 15th largest position. Trigran Investments Inc.’s holdings in Core & Main were worth $4,400,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNM. Capital World Investors increased its position in Core & Main by 294.9% during the third quarter. Capital World Investors now owns 5,948,134 shares of the company’s stock worth $320,188,000 after purchasing an additional 4,442,047 shares during the last quarter. Norges Bank acquired a new position in Core & Main during the fourth quarter worth approximately $108,265,000. Holocene Advisors LP acquired a new position in Core & Main during the third quarter worth approximately $100,765,000. First Trust Advisors LP increased its position in Core & Main by 38.6% during the fourth quarter. First Trust Advisors LP now owns 5,318,070 shares of the company’s stock worth $276,380,000 after purchasing an additional 1,482,235 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in Core & Main during the third quarter worth approximately $67,284,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James D. Hope acquired 1,972 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was bought at an average price of $50.70 per share, with a total value of $99,980.40. Following the completion of the transaction, the director directly owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the sale, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at $656,750. The trade was a 28.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CNM shares. Citigroup dropped their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays dropped their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $24.00 price target on shares of Core & Main in a research report on Thursday. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Core & Main presently has a consensus rating of “Moderate Buy” and an average price target of $57.73.

Core & Main Price Performance

Core & Main stock opened at $48.12 on Monday. Core & Main, Inc. has a 52-week low of $43.96 and a 52-week high of $67.18. The firm has a fifty day moving average of $49.79 and a 200-day moving average of $52.13. The firm has a market capitalization of $9.37 billion, a P/E ratio of 20.39, a PEG ratio of 1.68 and a beta of 0.91. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Wednesday, June 10th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.19. Core & Main had a net margin of 5.87% and a return on equity of 26.17%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. As a group, analysts predict that Core & Main, Inc. will post 3.06 EPS for the current year.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.