Tidal Investments LLC Has $714,000 Stake in Core & Main, Inc. (NYSE:CNM)

Tidal Investments LLC lowered its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 56.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,081 shares of the company’s stock after selling 21,136 shares during the period. Tidal Investments LLC’s holdings in Core & Main were worth $714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Select Equity Group L.P. boosted its position in shares of Core & Main by 0.3% during the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after acquiring an additional 39,475 shares in the last quarter. FMR LLC boosted its holdings in Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after purchasing an additional 1,903,280 shares in the last quarter. State Street Corp grew its stake in shares of Core & Main by 9.7% in the 3rd 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. Pacer Advisors Inc. raised its holdings in shares of Core & Main by 1.0% in the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after buying an additional 41,521 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its position in shares of Core & Main by 39.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after buying an additional 1,073,451 shares during the period. Institutional investors own 94.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Margaret Newman sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total value of $828,750.00. Following the transaction, the director now owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. This trade represents a 56.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of Core & Main stock in a transaction that occurred 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 sale, the president now owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. This represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,000 shares of company stock worth $15,926,000 over the last three months. 3.49% of the stock is currently owned by company insiders.

Core & Main Price Performance

CNM opened at $50.54 on Friday. 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 stock has a market capitalization of $10.04 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The company’s 50 day simple moving average is $47.32 and its 200-day simple moving average is $47.64. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Bank of America dropped their target price on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research report on Thursday, September 5th. Loop Capital boosted their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.10.

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.