Clear Harbor Asset Management LLC Purchases 1,971 Shares of Core & Main, Inc. (NYSE:CNM)

Clear Harbor Asset Management LLC raised its position in Core & Main, Inc. (NYSE:CNM) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 235,911 shares of the company’s stock after acquiring an additional 1,971 shares during the quarter. Core & Main makes up 1.0% of Clear Harbor Asset Management LLC’s portfolio, making the stock its 22nd biggest holding. Clear Harbor Asset Management LLC owned 0.12% of Core & Main worth $12,010,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eagle Asset Management Inc. lifted 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 purchasing an additional 44,282 shares during the period. Quest Partners LLC raised 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 worth $531,000 after acquiring an additional 11,956 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Core & Main during the 3rd quarter worth $774,000. South Street Advisors LLC grew its position in shares of Core & Main by 36.0% during the 3rd 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. Finally, Douglass Winthrop Advisors LLC raised its holdings in Core & Main by 23.3% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock worth $3,120,000 after purchasing an additional 13,263 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Up 0.6 %

NYSE CNM opened at $55.21 on Tuesday. The stock has a 50 day moving average price of $50.22 and a 200-day moving average price of $48.01. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. The company has a market capitalization of $10.97 billion, a P/E ratio of 25.92, a P/E/G ratio of 3.05 and a beta of 1.02. 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 (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period in the prior year, the company earned $0.65 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. As a group, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $2,753,500.00. Following the completion of the transaction, the president now directly owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the sale, the general counsel now directly owns 7,667 shares in the company, valued at $423,908.43. This trade represents a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 427,426 shares of company stock worth $22,923,825 over the last three months. 3.49% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.