Yousif Capital Management LLC Cuts Stock Position in Core & Main, Inc. (NYSE:CNM)

Yousif Capital Management LLC lowered its position in Core & Main, Inc. (NYSE:CNM) by 1.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,141 shares of the company’s stock after selling 1,134 shares during the period. Yousif Capital Management LLC’s holdings in Core & Main were worth $3,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Core & Main by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after purchasing an additional 221,970 shares in the last quarter. FMR LLC boosted its stake in Core & Main by 4.1% in the 4th quarter. FMR LLC now owns 9,055,993 shares of the company’s stock worth $461,041,000 after purchasing an additional 358,909 shares in the last quarter. Invesco Ltd. boosted its stake in Core & Main by 0.8% in the 4th quarter. Invesco Ltd. now owns 5,926,569 shares of the company’s stock worth $301,722,000 after purchasing an additional 44,513 shares in the last quarter. Bessemer Group Inc. boosted its stake in Core & Main by 0.5% in the 4th quarter. Bessemer Group Inc. now owns 3,835,182 shares of the company’s stock worth $195,250,000 after purchasing an additional 20,756 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in Core & Main by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company’s stock worth $194,005,000 after purchasing an additional 48,833 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insider Activity at Core & Main

In other news, EVP John R. Schaller sold 9,794 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $55.00, for a total transaction of $538,670.00. Following the transaction, the executive vice president now owns 19,689 shares of the company’s stock, valued at approximately $1,082,895. The trade was a 33.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Mark G. Whittenburg sold 900 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $60.03, for a total transaction of $54,027.00. Following the completion of the transaction, the general counsel now directly owns 9,691 shares in the company, valued at $581,750.73. The trade was a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 157,666 shares of company stock worth $8,770,352 in the last three months. Company insiders own 3.53% of the company’s stock.

Core & Main Stock Performance

Shares of NYSE CNM opened at $56.05 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a 50 day simple moving average of $52.95 and a two-hundred day simple moving average of $52.01. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $60.38. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.61 and a beta of 1.02.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the previous year, the business posted $0.49 EPS. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on CNM. Wells Fargo & Company lifted their target price on shares of Core & Main from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. Citigroup lifted their target price on shares of Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Core & Main currently has an average rating of “Moderate Buy” and an average target price of $59.55.

Core & Main 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.