Everence Capital Management Inc. Invests $287,000 in Core & Main, Inc. (NYSE:CNM)

Everence Capital Management Inc. bought a new stake in Core & Main, Inc. (NYSE:CNM) during the fourth quarter, HoldingsChannel.com reports. The fund bought 5,630 shares of the company’s stock, valued at approximately $287,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. grew its stake in shares of Core & Main by 2.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock valued at $74,979,000 after purchasing an additional 44,282 shares during the period. Quest Partners LLC grew its position in Core & Main by 1,195,600.0% in the third quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after acquiring an additional 11,956 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in Core & Main during the third quarter worth $774,000. South Street Advisors LLC bought a new position in shares of Core & Main during the second quarter valued at $8,427,000. Finally, Douglass Winthrop Advisors LLC boosted its stake in shares of Core & Main by 23.3% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock valued at $3,120,000 after purchasing an additional 13,263 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of CNM stock opened at $50.95 on Wednesday. The firm’s 50 day moving average price is $48.67 and its two-hundred day moving average price is $47.75. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The stock has a market cap of $10.12 billion, a PE ratio of 23.92, a PEG ratio of 2.95 and a beta of 1.02. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week 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, topping analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CNM. Wells Fargo & Company lifted their price target on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Citigroup raised their price target on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday. Loop Capital increased their target price on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird lifted their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

Insider Activity at Core & Main

In other Core & Main news, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the transaction, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Bradford A. Cowles sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the sale, the president now owns 18,423 shares in the company, valued at $1,014,554.61. This trade represents a 73.07 % decrease in their ownership of the stock. 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 ninety 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.