Janney Montgomery Scott LLC purchased a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,800 shares of the company's stock, valued at approximately $558,000.
Other large investors have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Core & Main during the third quarter worth $28,000. Kepos Capital LP acquired a new stake in shares of Core & Main in the third quarter valued at approximately $41,000. GAMMA Investing LLC purchased a new position in shares of Core & Main during the 4th quarter worth approximately $41,000. Principal Securities Inc. acquired a new position in shares of Core & Main during the 4th quarter worth approximately $43,000. Finally, Headlands Technologies LLC purchased a new stake in Core & Main in the 4th quarter valued at approximately $95,000. Hedge funds and other institutional investors own 94.19% of the company's stock.
Insider Buying and Selling at Core & Main
In other news, VP John Weldon Stephens sold 43,900 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $50.02, for a total value of $2,195,878.00. Following the transaction, the vice president now owns 3,468 shares of the company's stock, valued at approximately $173,469.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP John Weldon Stephens sold 43,900 shares of Core & Main stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $50.02, for a total value of $2,195,878.00. Following the completion of the transaction, the vice president now directly owns 3,468 shares in the company, valued at $173,469.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the business's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $2,895,500.00. Following the completion of the sale, the general counsel now directly owns 12,933 shares of the company's stock, valued at $748,950.03. The disclosure for this sale can be found here. Insiders have sold a total of 273,900 shares of company stock valued at $15,387,095 over the last ninety days. Corporate insiders own 3.49% of the company's stock.
Analysts Set New Price Targets
Several research firms have weighed in on CNM. Loop Capital raised their price target on Core & Main from $58.00 to $64.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. Royal Bank of Canada boosted their target price on shares of Core & Main from $59.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, March 20th. The Goldman Sachs Group raised their price target on shares of Core & Main from $42.00 to $61.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 26th. Barclays boosted their price objective on shares of Core & Main from $49.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, March 20th. Finally, Citigroup lowered shares of Core & Main from a "buy" rating to a "neutral" rating and raised their target price for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.08.
Read Our Latest Stock Report on CNM
Core & Main Stock Down 2.4 %
Shares of NYSE CNM opened at $56.20 on Tuesday. The stock has a market capitalization of $11.32 billion, a PE ratio of 26.14, a P/E/G ratio of 1.78 and a beta of 1.12. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22. The firm has a fifty day moving average of $57.94 and a 200-day moving average of $47.91. Core & Main, Inc. has a 52-week low of $26.79 and a 52-week high of $62.15.
Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. The firm's revenue was up 4.8% on a year-over-year basis. On average, analysts anticipate that Core & Main, Inc. will post 2.59 EPS for the current year.
Core & Main Profile
(Free Report)
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.
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