Andina Capital Management LLC raised its position in Core & Main, Inc. (NYSE:CNM – Free Report) by 6.5% in the 4th quarter, Holdings Channel reports. The fund owned 9,274 shares of the company’s stock after acquiring an additional 567 shares during the period. Andina Capital Management LLC’s holdings in Core & Main were worth $472,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Core & Main during the third quarter worth about $26,000. ORG Wealth Partners LLC acquired a new position in Core & Main during the third quarter worth about $31,000. Avior Wealth Management LLC grew its position in Core & Main by 51.3% during 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 period. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main in the third quarter valued at $49,000. Finally, UMB Bank n.a. raised its stake in shares of 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 buying an additional 684 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on CNM. The Goldman Sachs Group lifted their price target on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Barclays lifted their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial lifted 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. Wells Fargo & Company lifted their price target on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, Citigroup lifted their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and an average price target of $57.30.
Core & Main Stock Down 0.8 %
CNM opened at $56.41 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02. The business has a 50-day moving average of $51.39 and a two-hundred day moving average of $48.23. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15.
Core & Main (NYSE:CNM – Get Free Report) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating 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 analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. On average, research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.
Insider Transactions at Core & Main
In other news, CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now owns 92,349 shares in the company, valued at approximately $5,068,113.12. The trade was a 68.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey D. Giles sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 11,615 shares of the company’s stock, valued at $635,456.65. The trade was a 68.28 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 427,426 shares of company stock worth $22,923,825. 3.49% of the stock is currently owned by company insiders.
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.
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