Exchange Traded Concepts LLC Sells 22,442 Shares of Core & Main, Inc. (NYSE:CNM)

Exchange Traded Concepts LLC trimmed its position in shares of Core & Main, Inc. (NYSE:CNM) by 38.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,455 shares of the company’s stock after selling 22,442 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Core & Main were worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CNM. Fifth Third Wealth Advisors LLC grew its stake in shares of Core & Main by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after purchasing an additional 258 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares during the last quarter. Andina Capital Management LLC grew its stake in shares of Core & Main by 3.5% during the third quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock valued at $387,000 after purchasing an additional 294 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $60,000 after purchasing an additional 511 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Core & Main during the third quarter valued at approximately $26,000. 94.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNM has been the topic of several research analyst reports. Barclays increased 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. Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their price objective on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Citigroup increased their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price objective (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Core & Main Trading Down 0.8 %

CNM opened at $56.41 on Monday. The firm’s fifty day moving average is $51.39 and its two-hundred day moving average is $48.22. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm has a market cap of $11.21 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. Equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In other Core & Main news, CEO Stephen O. Leclair sold 200,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total value of $10,976,000.00. Following the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $423,908.43. The trade was 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. Company insiders own 3.49% of the company’s stock.

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.