Core & Main, Inc. (NYSE:CNM) Holdings Boosted by Federated Hermes Inc.

Federated Hermes Inc. grew its holdings in Core & Main, Inc. (NYSE:CNM) by 4,757.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,138,346 shares of the company’s stock after purchasing an additional 1,114,913 shares during the period. Federated Hermes Inc.’s holdings in Core & Main were worth $57,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. US Bancorp DE lifted its stake in Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after acquiring an additional 197 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Core & Main by 4.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock worth $286,000 after purchasing an additional 258 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after purchasing an additional 278 shares during the period. Finally, CIBC Asset Management Inc grew its position in Core & Main by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after purchasing an additional 287 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Ratings Changes

CNM has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Citigroup boosted their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Royal Bank of Canada dropped their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price target for the company. Finally, Robert W. Baird dropped their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.55.

Core & Main Price Performance

Shares of Core & Main stock opened at $46.12 on Monday. 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 firm has a fifty day simple moving average of $51.06 and a 200-day simple moving average of $49.19. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. On average, sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In other news, President Bradford A. Cowles sold 12,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the president now directly owns 16,010 shares in the company, valued at $808,505. The trade was a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,257 shares of company stock valued at $11,501,977. Insiders own 3.49% of the company’s stock.

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.