Venturi Wealth Management LLC Purchases New Holdings in Core & Main, Inc. (NYSE:CNM)

Venturi Wealth Management LLC acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,739 shares of the company’s stock, valued at approximately $89,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after buying an additional 1,903,280 shares during the period. State Street Corp increased its stake in shares of Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after acquiring an additional 489,224 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Core & Main by 1.0% during the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after acquiring an additional 41,521 shares in the last quarter. Royal London Asset Management Ltd. boosted its position in Core & Main by 39.9% during the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after purchasing an additional 1,073,451 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Core & Main by 14.5% in the third quarter. Geode Capital Management LLC now owns 3,261,964 shares of the company’s stock valued at $144,869,000 after purchasing an additional 412,520 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Stock Down 2.8 %

Shares of CNM stock opened at $50.97 on Monday. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month 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 firm has a market cap of $10.13 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.61 and a beta of 1.03. The stock has a 50 day moving average of $53.44 and a 200-day moving average of $48.72.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating 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 firm 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 EPS. The business’s revenue was up 11.5% on a year-over-year basis. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Activity at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the sale, the president now owns 18,423 shares of the company’s stock, valued at $1,014,554.61. The trade was a 73.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Margaret Newman sold 15,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total value of $828,750.00. Following the sale, the director now directly owns 11,769 shares in the company, valued at $650,237.25. The trade was a 56.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 452,426 shares of company stock worth $24,285,825 over the last three months. Company insiders own 3.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CNM. Loop Capital raised their price target on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Barclays increased their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 target price (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Finally, Citigroup boosted their price target on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

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.