Vontobel Holding Ltd. Sells 4,098 Shares of Core & Main, Inc. (NYSE:CNM)

Vontobel Holding Ltd. trimmed its stake in Core & Main, Inc. (NYSE:CNM) by 6.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,431 shares of the company’s stock after selling 4,098 shares during the period. Vontobel Holding Ltd.’s holdings in Core & Main were worth $2,822,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Core & Main in the 3rd quarter worth $26,000. Avior Wealth Management LLC raised its position in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 271 shares in the last quarter. UMB Bank n.a. increased 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 valued at $49,000 after buying an additional 684 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Core & Main during the 3rd quarter valued at about $49,000. Finally, Blue Trust Inc. increased its position in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after buying an additional 830 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CNM shares. Loop Capital upped their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Truist Financial upped their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Citigroup upped their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Barclays upped their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Core & Main Stock Up 0.3 %

Shares of CNM opened at $54.22 on Monday. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 2.75 and a beta of 1.03. The stock’s 50-day moving average price is $53.40 and its 200-day moving average price is $48.56.

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

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred 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 transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the transaction, the president now owns 18,423 shares in the company, valued at $1,014,554.61. This represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 452,426 shares of company stock worth $24,285,825. 3.49% of the stock is owned by corporate insiders.

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.