Jennison Associates LLC Has $7.25 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Jennison Associates LLC lessened its position in shares of Core & Main, Inc. (NYSE:CNM) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,419 shares of the company’s stock after selling 22,059 shares during the quarter. Jennison Associates LLC owned approximately 0.08% of Core & Main worth $7,250,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Brown Advisory Inc. grew its holdings in shares of Core & Main by 6.7% during the 3rd quarter. Brown Advisory Inc. now owns 8,456 shares of the company’s stock worth $244,000 after purchasing an additional 532 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position 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 buying an additional 775 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Core & Main during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp lifted its position in shares of Core & Main by 10.8% during the 4th quarter. Fifth Third Bancorp now owns 10,301 shares of the company’s stock worth $416,000 after buying an additional 1,001 shares during the period. Finally, Global Retirement Partners LLC lifted its position in shares of Core & Main by 53.0% during the 4th quarter. Global Retirement Partners LLC now owns 3,075 shares of the company’s stock worth $127,000 after buying an additional 1,065 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

CNM has been the subject of several research analyst reports. Truist Financial reiterated a “hold” rating and issued a $38.00 price objective on shares of Core & Main in a research report on Wednesday, March 20th. JPMorgan Chase & Co. lifted their price objective on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Loop Capital lifted their price objective on Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group lifted their price objective on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average price target of $50.08.

Insider Buying and Selling

In related news, VP John Weldon Stephens sold 1,100 shares of Core & Main stock in a transaction on Monday, March 4th. The stock was sold at an average price of $50.02, for a total transaction of $55,022.00. Following the completion of the sale, the vice president now directly owns 3,468 shares of the company’s stock, valued at $173,469.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Core & Main news, VP John Weldon Stephens sold 1,100 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $50.02, for a total value of $55,022.00. Following the completion of the transaction, the vice president now directly owns 3,468 shares of the company’s stock, valued at $173,469.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $54.08, for a total value of $2,704,000.00. Following the completion of the transaction, the general counsel now directly owns 12,933 shares of the company’s stock, valued at $699,416.64. The disclosure for this sale can be found here. Insiders sold a total of 520,500 shares of company stock valued at $25,511,067 over the last three months. Company insiders own 3.49% of the company’s stock.

Core & Main Stock Up 1.0 %

Shares of Core & Main stock opened at $57.31 on Friday. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. Core & Main, Inc. has a 12 month low of $25.18 and a 12 month high of $60.83. The business has a fifty day simple moving average of $53.15 and a 200 day simple moving average of $42.63. The stock has a market cap of $11.54 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.74 and a beta of 1.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts predict that Core & Main, Inc. will post 2.59 EPS for the current 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.