Core & Main, Inc. (NYSE:CNM) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC decreased its position in Core & Main, Inc. (NYSE:CNM) by 25.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,612 shares of the company’s stock after selling 5,411 shares during the period. Cullen Capital Management LLC’s holdings in Core & Main were worth $795,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Core & Main by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock worth $927,580,000 after buying an additional 221,970 shares in the last quarter. State Street Corp raised its position in shares of Core & Main by 9.7% during the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after purchasing an additional 489,224 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of Core & Main by 1.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company’s stock valued at $194,005,000 after purchasing an additional 48,833 shares during the last quarter. Amundi lifted its holdings in shares of Core & Main by 5.7% during the fourth quarter. Amundi now owns 3,659,261 shares of the company’s stock valued at $186,722,000 after purchasing an additional 196,828 shares during the last quarter. Finally, Impax Asset Management Group plc increased its stake in Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after purchasing an additional 1,416,907 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

CNM has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective 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 raised their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Robert W. Baird lowered their target price on 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, April 1st. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Royal Bank of Canada reduced their price target on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. One equities research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.55.

Insider Transactions at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were 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 owns 16,010 shares in the company, valued at $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO John Weldon Stephens sold 41,963 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the sale, the chief accounting officer now owns 4,120 shares in the company, valued at approximately $207,977.60. This represents a 91.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 226,257 shares of company stock valued at $11,501,977. Company insiders own 3.49% of the company’s stock.

Core & Main Trading Down 2.3 %

Shares of CNM opened at $46.12 on Friday. The stock’s 50-day moving average price is $51.06 and its 200 day moving average price is $49.15. The company has a quick ratio of 1.28, a current ratio of 2.14 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 firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.