Sheaff Brock Investment Advisors LLC Buys 752 Shares of Core & Main, Inc. (NYSE:CNM)

Sheaff Brock Investment Advisors LLC grew its stake in shares of Core & Main, Inc. (NYSE:CNM) by 9.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 8,838 shares of the company’s stock after purchasing an additional 752 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Core & Main were worth $450,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Core & Main in the 3rd quarter worth approximately $26,000. Avior Wealth Management LLC boosted its stake in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares during the last quarter. UMB Bank n.a. boosted 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 worth $49,000 after buying an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main in the 3rd quarter worth approximately $49,000. Finally, Blue Trust Inc. boosted its stake in shares of Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after buying an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 0.3 %

Core & Main stock opened at $54.22 on Monday. The stock has a market cap of $10.77 billion, a P/E ratio of 25.46, a PEG ratio of 2.75 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm’s fifty day moving average price is $53.40 and its 200-day moving average price is $48.56.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business 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 revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Equities research analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Core & Main

In other news, Director Margaret Newman sold 15,000 shares of the 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 completion of the sale, the director now directly owns 11,769 shares in the company, valued at approximately $650,237.25. This represents a 56.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 452,426 shares of company stock valued at $24,285,825 over the last 90 days. 3.49% of the stock is owned by insiders.

Analysts Set New Price Targets

CNM has been the topic of a number of research analyst reports. Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price objective on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Barclays upped their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. One 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.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Core & Main 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.