Core & Main, Inc. (NYSE:CNM) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in Core & Main, Inc. (NYSE:CNM) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,950 shares of the company’s stock after selling 1,250 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Core & Main were worth $1,321,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CNM. Ashton Thomas Securities LLC acquired a new stake in Core & Main during the third quarter valued at $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Core & Main during the 3rd quarter worth about $31,000. UMB Bank n.a. increased its stake in shares of Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main in the 3rd quarter valued at about $49,000. Finally, GAMMA Investing LLC boosted its position in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after purchasing an additional 511 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup boosted their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Truist Financial boosted their price target on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Loop Capital increased their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Barclays raised their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Core & Main Price Performance

Shares of NYSE:CNM opened at $54.73 on Wednesday. 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 $10.87 billion, a P/E ratio of 25.69, a P/E/G ratio of 3.12 and a beta of 1.03. 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 company’s fifty day moving average price is $52.89 and its 200 day moving average price is $48.44.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.99 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The company’s revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Core & Main

In other news, President Bradford A. Cowles sold 50,000 shares of Core & Main stock in a transaction dated 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 sale, the president now owns 18,423 shares of the company’s stock, valued at $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 427,426 shares of company stock worth $22,923,825. 3.49% of the stock is owned by company insiders.

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.