Quantinno Capital Management LP Has $597,000 Stock Position in Core & Main, Inc. (NYSE:CNM)

Quantinno Capital Management LP cut its position in Core & Main, Inc. (NYSE:CNM) by 4.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,457 shares of the company’s stock after selling 559 shares during the quarter. Quantinno Capital Management LP’s holdings in Core & Main were worth $597,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNM. Royal London Asset Management Ltd. boosted its holdings in shares of Core & Main by 39.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after acquiring an additional 1,073,451 shares in the last quarter. Redwood Investment Management LLC boosted its stake in Core & Main by 4.1% in the third quarter. Redwood Investment Management LLC now owns 29,488 shares of the company’s stock worth $1,350,000 after purchasing an additional 1,164 shares in the last quarter. PointState Capital LP acquired a new position in Core & Main in the third quarter worth $100,013,000. Polar Asset Management Partners Inc. bought a new stake in shares of Core & Main during the third quarter worth $3,024,000. Finally, Millburn Ridgefield Corp acquired a new stake in shares of Core & Main in the third quarter valued at $118,000. 94.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CNM shares. Robert W. Baird increased their price objective on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Loop Capital raised their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America decreased their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research report on Thursday, September 5th. Barclays lifted their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.10.

Insider Activity

In other Core & Main news, President Bradford A. Cowles sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the transaction, the president now directly owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey D. Giles sold 25,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the sale, the executive vice president now owns 11,615 shares of the company’s stock, valued at $635,456.65. This trade represents a 68.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,000 shares of company stock valued at $15,926,000 in the last quarter. Company insiders own 3.49% of the company’s stock.

Core & Main Trading Down 0.4 %

NYSE:CNM opened at $52.21 on Friday. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.95 and a beta of 1.04. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The business’s 50-day moving average price is $46.53 and its two-hundred day moving average price is $47.79. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping 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 business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the firm earned $0.65 EPS. Core & Main’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Core & Main Company 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.