Core & Main, Inc. (NYSE:CNM) Shares Sold by Oak Thistle LLC

Oak Thistle LLC lowered its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 61.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,183 shares of the company’s stock after selling 12,994 shares during the period. Oak Thistle LLC’s holdings in Core & Main were worth $468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rise Advisors LLC purchased a new stake in Core & Main during the 1st quarter worth about $27,000. Quadrant Capital Group LLC grew its holdings in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after buying an additional 365 shares in the last quarter. Kepos Capital LP acquired a new position 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 fourth quarter valued at approximately $41,000. Finally, Principal Securities Inc. acquired a new stake in Core & Main during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

NYSE:CNM opened at $48.41 on Tuesday. Core & Main, Inc. has a twelve month low of $27.75 and a twelve month high of $62.15. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 1.85 and a beta of 1.06. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The firm’s fifty day simple moving average is $55.04 and its 200 day simple moving average is $49.82.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. Core & Main’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. As a group, equities research analysts expect that Core & Main, Inc. will post 2.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CNM has been the topic of a number of recent analyst reports. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. Truist Financial lowered their price target on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a report on Wednesday, June 5th. JPMorgan Chase & Co. increased their price objective on shares of Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Loop Capital boosted their target price on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group increased 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and an average price target of $52.90.

Insider Activity

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction on 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 in the company, valued at $699,416.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the completion of the sale, the general counsel now owns 12,933 shares in the company, valued at approximately $699,416.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO John Weldon Stephens sold 9,497 shares of Core & Main stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.19, for a total transaction of $524,139.43. Following the completion of the sale, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at approximately $236,268.39. The disclosure for this sale can be found here. Insiders have sold 165,000 shares of company stock worth $9,427,067 over the last 90 days. Company insiders own 3.49% of the company’s stock.

About Core & Main

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.