DF Dent & Co. Inc. Cuts Stock Position in Core & Main, Inc. (NYSE:CNM)

DF Dent & Co. Inc. trimmed its position in shares of Core & Main, Inc. (NYSE:CNM) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 815,124 shares of the company’s stock after selling 22,569 shares during the quarter. DF Dent & Co. Inc.’s holdings in Core & Main were worth $41,498,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CNM. ExodusPoint Capital Management LP boosted its position in Core & Main by 2,774.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 308,478 shares of the company’s stock valued at $15,705,000 after buying an additional 297,746 shares during the period. Bryce Point Capital LLC bought a new stake in shares of Core & Main in the 4th quarter valued at about $1,768,000. Trexquant Investment LP purchased a new stake in Core & Main during the 4th quarter valued at about $2,172,000. Geode Capital Management LLC boosted its holdings in Core & Main by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,288,763 shares of the company’s stock valued at $167,483,000 after acquiring an additional 26,799 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in Core & Main by 3.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 26,784 shares of the company’s stock worth $1,364,000 after acquiring an additional 826 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Insider Activity at Core & Main

In related news, President Bradford A. Cowles sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the sale, the president now owns 16,010 shares in the company, valued at $872,224.80. This represents a 60.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John R. Schaller sold 60,452 shares of Core & Main stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares of the company’s stock, valued at $905,101.86. The trade was a 77.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock valued at $9,383,685 in the last three months. Company insiders own 3.49% of the company’s stock.

Core & Main Stock Up 3.1 %

Shares of NYSE:CNM opened at $50.92 on Thursday. The firm has a market capitalization of $10.12 billion, a P/E ratio of 23.91, a P/E/G ratio of 2.61 and a beta of 1.05. 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 price of $51.46 and a 200-day moving average price of $49.08. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the company posted $0.34 EPS. Core & Main’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on CNM shares. Citigroup increased their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Royal Bank of Canada lowered their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company raised their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Loop Capital upped their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.55.

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.