Victory Capital Management Inc. Sells 1,000,284 Shares of Core & Main, Inc. (NYSE:CNM)

Victory Capital Management Inc. trimmed its holdings in Core & Main, Inc. (NYSE:CNM) by 20.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,784,352 shares of the company’s stock after selling 1,000,284 shares during the period. Victory Capital Management Inc. owned about 1.75% of Core & Main worth $152,926,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Core & Main in the third quarter valued at $28,000. Kepos Capital LP purchased a new stake in shares of Core & Main in the third quarter valued at about $41,000. GAMMA Investing LLC purchased a new stake in shares of Core & Main in the fourth quarter valued at about $41,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Core & Main by 81.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company’s stock valued at $50,000 after purchasing an additional 775 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Core & Main in the fourth quarter valued at about $95,000. 94.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNM. Royal Bank of Canada increased their target price on shares of Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Citigroup downgraded shares of Core & Main from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $64.00 in a report on Friday, April 5th. Loop Capital raised their price objective on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Truist Financial reiterated a “hold” rating and set a $38.00 target price on shares of Core & Main in a research report on Wednesday, March 20th. Finally, Barclays increased their target price on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Insider Buying and Selling at Core & Main

In other Core & Main news, CEO Stephen O. Leclair sold 150,000 shares of Core & Main 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 $6,621,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,692 shares in the company, valued at $3,252,764.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Core & Main news, insider Laura K. Schneider sold 100,000 shares of Core & Main 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 $4,414,000.00. Following the completion of the sale, the insider now directly owns 9,672 shares in the company, valued at $426,922.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen O. Leclair sold 150,000 shares of Core & Main 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 $6,621,000.00. Following the transaction, the chief executive officer now directly owns 73,692 shares in the company, valued at $3,252,764.88. The disclosure for this sale can be found here. Insiders sold a total of 520,500 shares of company stock worth $25,511,067 over the last three months. 3.49% of the stock is owned by insiders.

Core & Main Price Performance

CNM stock opened at $57.06 on Thursday. The firm has a 50 day moving average of $53.64 and a 200-day moving average of $43.15. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. Core & Main, Inc. has a 12 month low of $25.94 and a 12 month high of $60.83. The firm has a market capitalization of $11.49 billion, a P/E ratio of 26.54, a price-to-earnings-growth ratio of 1.75 and a beta of 1.14.

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

Core & Main Company Profile

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.