Core & Main, Inc. (NYSE:CNM) Shares Sold by Sonen Capital LLC

Sonen Capital LLC trimmed its stake in shares of Core & Main, Inc. (NYSE:CNM) by 12.0% during the fourth quarter, Holdings Channel reports. The firm owned 10,474 shares of the company’s stock after selling 1,434 shares during the period. Sonen Capital LLC’s holdings in Core & Main were worth $423,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Advisory Inc. boosted its holdings in shares of Core & Main by 6.7% during the third quarter. Brown Advisory Inc. now owns 8,456 shares of the company’s stock valued at $244,000 after acquiring an additional 532 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in Core & Main by 81.5% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company’s stock valued at $50,000 after purchasing an additional 775 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Core & Main during the 3rd quarter valued at about $28,000. GAMMA Investing LLC bought a new position in Core & Main in the 4th quarter worth about $41,000. Finally, Fifth Third Bancorp grew its position in Core & Main by 10.8% in the 4th quarter. Fifth Third Bancorp now owns 10,301 shares of the company’s stock worth $416,000 after purchasing an additional 1,001 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CNM. Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. The Goldman Sachs Group boosted their price target on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Loop Capital increased their price target on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Barclays lifted their price objective on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, Royal Bank of Canada upped their price objective on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.08.

Insider Buying and Selling at Core & Main

In other news, CAO John Weldon Stephens sold 9,497 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $55.19, for a total transaction of $524,139.43. Following the completion of the sale, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at approximately $236,268.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Core & Main news, CAO John Weldon Stephens sold 9,497 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.19, for a total transaction of $524,139.43. Following the completion of the sale, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at $236,268.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jeffrey D. Giles sold 40,000 shares of Core & Main stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the completion of the transaction, the vice president now directly owns 8,217 shares in the company, valued at $362,698.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 520,500 shares of company stock valued at $25,511,067. Corporate insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Shares of Core & Main stock opened at $57.32 on Friday. Core & Main, Inc. has a 52 week low of $25.18 and a 52 week high of $60.83. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The company’s 50-day moving average price is $53.15 and its two-hundred day moving average price is $42.71. The stock has a market cap of $11.54 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 1.77 and a beta of 1.15.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. As a group, sell-side analysts anticipate that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Core & Main Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.