1,540 Shares in Core & Main, Inc. (NYSE:CNM) Bought by R Squared Ltd

R Squared Ltd bought a new position in Core & Main, Inc. (NYSE:CNM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,540 shares of the company’s stock, valued at approximately $78,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC purchased a new stake in Core & Main during the third quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new stake in Core & Main during the third quarter valued at about $31,000. Avior Wealth Management LLC boosted 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 valued at $41,000 after buying an additional 271 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the third quarter valued at about $49,000. Finally, UMB Bank n.a. boosted its position in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares during the period. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This trade represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total transaction of $675,875.00. Following the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at $865,660.70. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,426 shares of company stock valued at $22,923,825 over the last three months. Corporate insiders own 3.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CNM shares. Robert W. Baird upped their price target on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Loop Capital upped their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 target price (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Wells Fargo & Company increased their target price on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Citigroup increased their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Core & Main Price Performance

CNM stock opened at $56.54 on Friday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a market cap of $11.23 billion, a P/E ratio of 26.55, a PEG ratio of 3.12 and a beta of 1.02. The firm has a 50-day moving average of $52.57 and a 200 day moving average of $48.45. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

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