Boston Trust Walden Corp Invests $9.79 Million in Core & Main, Inc. (NYSE:CNM)

Boston Trust Walden Corp acquired a new position in Core & Main, Inc. (NYSE:CNM) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 202,570 shares of the company’s stock, valued at approximately $9,786,000. Boston Trust Walden Corp owned approximately 0.10% of Core & Main at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. US Bancorp DE raised its position in shares of 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. Quadrant Capital Group LLC grew its stake in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after buying an additional 278 shares during the period. CIBC Asset Management Inc grew its stake in shares of Core & Main by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after buying an additional 287 shares during the period. State of Alaska Department of Revenue grew its stake in shares of Core & Main by 1.5% in the 1st quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company’s stock valued at $1,076,000 after buying an additional 330 shares during the period. Finally, Arizona State Retirement System grew its stake in shares of Core & Main by 0.6% in the 4th quarter. Arizona State Retirement System now owns 55,910 shares of the company’s stock valued at $2,846,000 after buying an additional 360 shares during the period. 94.19% of the stock is owned by institutional investors.

Core & Main Trading Up 0.8%

NYSE:CNM opened at $56.08 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $11.05 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.66 and a beta of 1.02. The firm’s 50 day moving average is $53.60 and its 200 day moving average is $52.23. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $60.38.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. Core & Main’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. Sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the sale, the chief accounting officer now owns 4,120 shares of the company’s stock, valued at $207,977.60. The trade was a 91.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Mark G. Whittenburg sold 49,100 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the sale, the general counsel now directly owns 9,691 shares in the company, valued at $581,750.73. The trade was a 83.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,666 shares of company stock valued at $8,770,352 in the last 90 days. 3.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CNM shares. Royal Bank Of Canada lifted their price target on Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, June 10th. Robert W. Baird cut their price target on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Loop Capital lifted their price target on Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Wells Fargo & Company lifted their price target on Core & Main from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, June 10th. Finally, Citigroup lifted their price target on Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.55.

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.