Core & Main, Inc. (NYSE:CNM) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC grew its position in shares of Core & Main, Inc. (NYSE:CNM) by 8.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,690 shares of the company’s stock after purchasing an additional 767 shares during the quarter. Summit Trail Advisors LLC’s holdings in Core & Main were worth $493,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Core & Main in the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Core & Main in the third quarter worth $31,000. Avior Wealth Management LLC grew its holdings 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 buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Core & Main during the third quarter valued at $49,000. Finally, UMB Bank n.a. boosted its position in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after acquiring an additional 684 shares during the period. Institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Robert W. Baird boosted 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. Barclays increased their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial boosted their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Citigroup lifted 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. One 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. Based on data from MarketBeat.com, Core & Main currently has an average rating of “Moderate Buy” and an average price target of $57.60.

Insider Activity at Core & Main

In related news, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $54.07, for a total transaction of $675,875.00. Following the sale, the president now directly owns 16,010 shares in the company, valued at $865,660.70. This represents a 43.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $387,106.83. This trade represents a 86.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,426 shares of company stock worth $22,923,825. 3.49% of the stock is owned by corporate insiders.

Core & Main Trading Up 0.3 %

Shares of NYSE:CNM opened at $54.85 on Wednesday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. 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 company has a market cap of $10.90 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.75 and a beta of 1.03. The stock’s 50-day moving average is $53.43 and its 200-day moving average is $48.54.

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

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.