Core & Main, Inc. (NYSE:CNM) Stock Position Lowered by WR Wealth Planners LLC

WR Wealth Planners LLC lessened its position in Core & Main, Inc. (NYSE:CNM) by 11.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,518 shares of the company’s stock after selling 200 shares during the period. WR Wealth Planners LLC’s holdings in Core & Main were worth $77,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Eagle Asset Management Inc. raised 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 worth $74,979,000 after buying an additional 44,282 shares in the last quarter. Quest Partners LLC raised its holdings in Core & Main by 1,195,600.0% during the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock worth $531,000 after buying an additional 11,956 shares during the period. Impax Asset Management Group plc lifted its stake in Core & Main by 70.4% during the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after buying an additional 1,416,907 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Core & Main in the third quarter worth about $774,000. Finally, South Street Advisors LLC raised its holdings in shares of Core & Main by 36.0% during the third quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock valued at $10,396,000 after acquiring an additional 61,962 shares during the period. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 0.0 %

Shares of NYSE CNM opened at $51.02 on Friday. The firm’s 50-day simple moving average is $53.37 and its 200 day simple moving average is $48.76. The company has a market cap of $10.14 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.61 and a beta of 1.03. 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, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly 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 company had revenue of $2.04 billion during 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%. Core & Main’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 EPS. On average, research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of the 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 sale, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This represents a 20.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the sale, the president now owns 16,010 shares in the company, valued at approximately $872,224.80. This trade represents a 60.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 452,426 shares of company stock valued at $24,285,825. 3.49% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CNM has been the topic of several research analyst reports. Barclays lifted their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price target 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. Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Truist Financial lifted their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

About Core & Main

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.