Duff & Phelps Investment Management Co. Decreases Position in Core & Main, Inc. (NYSE:CNM)

Duff & Phelps Investment Management Co. decreased its stake in Core & Main, Inc. (NYSE:CNM) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 599,000 shares of the company’s stock after selling 21,000 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.28% of Core & Main worth $24,206,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Brown Advisory Inc. boosted its stake in Core & Main by 6.7% during the third quarter. Brown Advisory Inc. now owns 8,456 shares of the company’s stock worth $244,000 after buying an additional 532 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Core & Main by 81.5% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company’s stock worth $50,000 after purchasing an additional 775 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in Core & Main during the 3rd quarter valued at about $28,000. GAMMA Investing LLC purchased a new stake in Core & Main in the 4th quarter worth about $41,000. Finally, Fifth Third Bancorp lifted its stake in Core & Main by 10.8% in the fourth quarter. Fifth Third Bancorp now owns 10,301 shares of the company’s stock worth $416,000 after purchasing an additional 1,001 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jeffrey D. Giles sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the completion of the transaction, the vice president now owns 8,217 shares in the company, valued at approximately $362,698.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Mark R. Witkowski sold 50,000 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $58.51, for a total value of $2,925,500.00. Following the completion of the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at approximately $1,398,271.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jeffrey D. Giles sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the sale, the vice president now directly owns 8,217 shares in the company, valued at approximately $362,698.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 520,500 shares of company stock worth $25,511,067. 3.49% of the stock is owned by corporate insiders.

Core & Main Stock Down 0.9 %

CNM stock traded down $0.52 during trading on Tuesday, hitting $56.88. 424,472 shares of the company’s stock traded hands, compared to its average volume of 2,761,935. The firm has a market capitalization of $11.45 billion, a P/E ratio of 26.70, a PEG ratio of 1.77 and a beta of 1.15. Core & Main, Inc. has a 1 year low of $25.94 and a 1 year high of $60.83. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $53.40 and a two-hundred day simple moving average of $42.97.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the business posted $0.31 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Core & Main, Inc. will post 2.59 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CNM shares. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and upped their target price for the company from $63.00 to $64.00 in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Barclays boosted their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group raised their price target on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Finally, Truist Financial reissued a “hold” rating and issued a $38.00 price objective on shares of Core & Main in a research report on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.08.

About Core & Main

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.