Core & Main, Inc. (NYSE:CNM) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp raised its stake in Core & Main, Inc. (NYSE:CNM) by 39.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 626,340 shares of the company’s stock after buying an additional 177,538 shares during the period. Mackenzie Financial Corp owned approximately 0.32% of Core & Main worth $30,258,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. CWM LLC grew its stake in Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after acquiring an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Core & Main by 3.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock worth $343,000 after purchasing an additional 229 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Core & Main by 2.6% during the first quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company’s stock worth $527,000 after purchasing an additional 272 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, State of Alaska Department of Revenue grew its position in Core & Main by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company’s stock valued at $1,076,000 after purchasing an additional 330 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Insider Buying and Selling at Core & Main

In other Core & Main news, insider Stephen O. Leclair sold 80,028 shares of the firm’s stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $62.27, for a total value of $4,983,343.56. Following the sale, the insider directly owned 70,736 shares in the company, valued at $4,404,730.72. This trade represents a 53.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark R. Witkowski sold 100,000 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the sale, the chief executive officer owned 35,847 shares of the company’s stock, valued at approximately $2,195,987.22. The trade was a 73.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,445 shares of company stock worth $26,045,755 in the last ninety days. 3.53% of the stock is owned by insiders.

Core & Main Stock Performance

CNM opened at $65.09 on Wednesday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $65.97. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. The stock has a 50-day moving average of $59.30 and a 200-day moving average of $54.15. The company has a market cap of $12.83 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.94 and a beta of 1.04.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.52. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. Core & Main’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS. As a group, equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada increased their target price on shares of Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 10th. Citigroup increased their price objective on Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. boosted their target price on Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a research report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Loop Capital reaffirmed a “hold” rating and set a $68.00 price target on shares of Core & Main in a research note on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.00.

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.