Nomura Asset Management Co. Ltd. Has $137,000 Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Nomura Asset Management Co. Ltd. decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 23.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,085 shares of the company’s stock after selling 970 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Core & Main were worth $137,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. XTX Topco Ltd acquired a new stake in shares of Core & Main during the 3rd quarter worth approximately $1,391,000. Zimmer Partners LP grew its holdings in Core & Main by 535.6% in the third quarter. Zimmer Partners LP now owns 1,303,000 shares of the company’s stock worth $57,853,000 after purchasing an additional 1,098,000 shares during the period. DF Dent & Co. Inc. increased its stake in Core & Main by 26.9% in the third quarter. DF Dent & Co. Inc. now owns 837,693 shares of the company’s stock valued at $37,194,000 after purchasing an additional 177,595 shares in the last quarter. Spruce House Investment Management LLC raised its holdings in shares of Core & Main by 400.0% during the third quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock valued at $66,600,000 after purchasing an additional 1,200,000 shares during the period. Finally, State Street Corp raised its holdings 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 valued at $245,177,000 after purchasing an additional 489,224 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling

In other news, President Bradford A. Cowles sold 50,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the sale, the president now directly owns 18,423 shares of the company’s stock, valued at $1,014,554.61. This trade represents a 73.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Margaret Newman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares in the company, valued at $650,237.25. This trade represents a 56.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 290,000 shares of company stock worth $15,926,000. 3.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on CNM shares. Loop Capital boosted their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their target price on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group lifted their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Truist Financial upped their price objective on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.10.

Core & Main Stock Performance

Shares of CNM stock opened at $52.21 on Monday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm has a 50-day moving average of $46.53 and a 200-day moving average of $47.72. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. The company has a market cap of $10.50 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.95 and a beta of 1.04.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business posted $0.65 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Core & Main 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.