Foster & Motley Inc. Buys 4,792 Shares of Core & Main, Inc. (NYSE:CNM)

Foster & Motley Inc. lifted its stake in Core & Main, Inc. (NYSE:CNM) by 20.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,554 shares of the company’s stock after acquiring an additional 4,792 shares during the period. Foster & Motley Inc.’s holdings in Core & Main were worth $1,454,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC acquired a new position in Core & Main during the 3rd quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new stake in Core & Main during the 3rd quarter valued at about $31,000. Avior Wealth Management LLC boosted its stake in shares of Core & Main by 51.3% in the fourth 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. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main in the third quarter worth about $49,000. Finally, UMB Bank n.a. boosted its stake in shares of Core & Main by 246.0% in the fourth 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. 94.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report 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 report on Wednesday, December 4th. Wells Fargo & Company increased their target price on 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 target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Barclays increased their price target on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One equities research 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Insider Transactions at Core & Main

In other news, 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 completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey D. Giles sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the transaction, the executive vice president now owns 11,615 shares of the company’s stock, valued at approximately $635,456.65. This represents a 68.28 % 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 ninety days. Company insiders own 3.49% of the company’s stock.

Core & Main Trading Up 1.1 %

Shares of Core & Main stock opened at $57.14 on Friday. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 3.16 and a beta of 1.02. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two 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 stock has a 50 day moving average of $52.35 and a 200 day moving average of $48.42.

Core & Main (NYSE:CNM) last issued its quarterly earnings data 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. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Core & Main Company 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.