Core & Main, Inc. (NYSE:CNM) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC reduced its stake in Core & Main, Inc. (NYSE:CNM) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,734 shares of the company’s stock after selling 286 shares during the period. Orion Portfolio Solutions LLC’s holdings in Core & Main were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. United Services Automobile Association raised its position in Core & Main by 2.0% in the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock valued at $651,000 after purchasing an additional 266 shares in the last quarter. Andina Capital Management LLC increased its stake in shares of Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock worth $387,000 after buying an additional 294 shares during the period. GAMMA Investing LLC raised its holdings in Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after acquiring an additional 511 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Core & Main in the third quarter valued at approximately $26,000. Finally, National Bank of Canada FI lifted its stake in Core & Main by 4.7% in the second quarter. National Bank of Canada FI now owns 14,453 shares of the company’s stock worth $700,000 after acquiring an additional 653 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Core & Main

In other news, Director Margaret Newman sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total transaction of $828,750.00. Following the transaction, the director now directly owns 11,769 shares in the company, valued at $650,237.25. The trade was a 56.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Bradford A. Cowles sold 50,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the sale, the president now directly owns 18,423 shares in the company, valued at $1,014,554.61. This represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,000 shares of company stock worth $15,926,000 in the last quarter. Company insiders own 3.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CNM shares. JPMorgan Chase & Co. reduced their price objective on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Barclays raised their price target on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $58.10.

Core & Main Stock Performance

Shares of CNM opened at $50.54 on Friday. The company’s 50 day simple moving average is $47.32 and its 200-day simple moving average is $47.64. The firm has a market cap of $10.04 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. 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 issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) 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 company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period last year, the firm posted $0.65 EPS. Core & Main’s revenue for the quarter was up 11.5% on a year-over-year basis. As a group, equities analysts predict that Core & Main, Inc. will post 2.16 EPS 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.