Pictet Asset Management Holding SA Has $407.62 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Pictet Asset Management Holding SA raised its position in shares of Core & Main, Inc. (NYSE:CNM) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,006,669 shares of the company’s stock after buying an additional 13,695 shares during the period. Pictet Asset Management Holding SA’s holdings in Core & Main were worth $407,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Core & Main during the 4th quarter worth approximately $115,555,000. PointState Capital LP acquired a new stake in shares of Core & Main in the third quarter valued at $100,013,000. Norges Bank acquired a new stake in shares of Core & Main in the fourth quarter valued at $99,734,000. FMR LLC raised its holdings in shares of Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after buying an additional 1,903,280 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its position in Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after buying an additional 1,416,907 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CNM. Royal Bank of Canada lowered their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday. The Goldman Sachs Group raised their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Wells Fargo & Company boosted 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. Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Barclays boosted their target price on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Core & Main Trading Up 0.9 %

Shares of NYSE CNM opened at $49.96 on Friday. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.61 and a beta of 1.05. 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’s fifty day moving average is $52.00 and its 200-day moving average is $48.74.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 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 analyst estimates of $1.67 billion. During the same period in the previous year, the business posted $0.34 EPS. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. Equities research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Transactions at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares in the company, valued at approximately $387,106.83. This trade represents a 86.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares of the company’s stock, valued at $770,282.64. This trade represents a 57.07 % decrease in their position. 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 90 days. 3.49% of the stock is owned by company insiders.

About Core & Main

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.