Wilmington Savings Fund Society FSB Acquires Shares of 1,107 Core & Main, Inc. (NYSE:CNM)

Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,107 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in Core & Main by 8.1% in the second quarter. Retirement Systems of Alabama now owns 231,482 shares of the company’s stock valued at $11,329,000 after purchasing an additional 17,276 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Core & Main by 10.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,421,219 shares of the company’s stock valued at $69,554,000 after buying an additional 136,189 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Core & Main by 1.5% in the 2nd quarter. Principal Financial Group Inc. now owns 1,286,389 shares of the company’s stock valued at $62,956,000 after buying an additional 19,012 shares during the last quarter. Peregrine Capital Management LLC raised its stake in Core & Main by 10.9% during the 2nd quarter. Peregrine Capital Management LLC now owns 215,590 shares of the company’s stock worth $10,551,000 after acquiring an additional 21,246 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Core & Main by 6.2% in the second quarter. Crossmark Global Holdings Inc. now owns 47,130 shares of the company’s stock valued at $2,306,000 after acquiring an additional 2,760 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CNM shares. Loop Capital boosted their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price objective on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. The Goldman Sachs Group lifted their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. decreased their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, Bank of America dropped their price objective on shares of Core & Main from $38.00 to $34.00 and set an “underperform” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $58.10.

Core & Main Stock Up 0.8 %

Shares of NYSE:CNM opened at $50.54 on Friday. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.95 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm’s 50-day simple moving average is $47.32 and its 200-day simple moving average is $47.64. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last released its earnings results 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. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 EPS. As a group, equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

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

Core & Main 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.