Pacer Advisors Inc. Reduces Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Pacer Advisors Inc. reduced its stake in shares of Core & Main, Inc. (NYSE:CNM) by 99.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 37,808 shares of the company’s stock after selling 4,212,411 shares during the period. Pacer Advisors Inc.’s holdings in Core & Main were worth $1,925,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Core & Main during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC purchased a new stake in Core & Main during the 3rd quarter worth approximately $31,000. Avior Wealth Management LLC increased its holdings in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the 3rd quarter worth approximately $49,000. Finally, UMB Bank n.a. increased its holdings in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Trading Down 0.9 %

NYSE:CNM opened at $56.54 on Friday. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The firm has a market capitalization of $11.23 billion, a P/E ratio of 26.55, a P/E/G ratio of 3.12 and a beta of 1.02. 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 business has a 50 day simple moving average of $52.57 and a 200 day simple moving average of $48.41.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Equities research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Activity at Core & Main

In related news, President Bradford A. Cowles sold 50,000 shares of the business’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 completion of the transaction, the president now owns 18,423 shares in the company, valued at $1,014,554.61. The trade was a 73.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at $423,908.43. This trade represents a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 427,426 shares of company stock worth $22,923,825 in the last 90 days. 3.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CNM. Truist Financial lifted their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their target price on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Citigroup lifted their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. One equities research 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.30.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.