Summit Trail Advisors LLC Buys Shares of 8,056 Core & Main, Inc. (NYSE:CNM)

Summit Trail Advisors LLC purchased a new stake in Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,056 shares of the company’s stock, valued at approximately $326,000.

Several other large investors have also modified their holdings of CNM. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Core & Main during the 3rd quarter valued at $28,000. Kepos Capital LP purchased a new stake in Core & Main during the 3rd quarter worth about $41,000. GAMMA Investing LLC acquired a new position in Core & Main in the 4th quarter valued at about $41,000. Whittier Trust Co. of Nevada Inc. raised its stake 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. Finally, Headlands Technologies LLC purchased a new position in Core & Main in the 4th quarter valued at about $95,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Stock Down 0.9 %

Shares of NYSE:CNM opened at $59.11 on Wednesday. Core & Main, Inc. has a 1 year low of $26.08 and a 1 year high of $60.83. The stock has a 50-day simple moving average of $54.84 and a 200-day simple moving average of $44.12. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. The stock has a market capitalization of $11.90 billion, a P/E ratio of 27.73, a PEG ratio of 1.81 and a beta of 1.14.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. Equities analysts forecast that Core & Main, Inc. will post 2.59 earnings per share for the current year.

Insider Buying and Selling at Core & Main

In other news, VP Jeffrey D. Giles sold 40,000 shares of Core & Main stock in a transaction dated 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 sale, the vice president now directly owns 8,217 shares of the company’s stock, valued at $362,698.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Core & Main news, insider Laura K. Schneider sold 100,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $4,414,000.00. Following the transaction, the insider now directly owns 9,672 shares in the company, valued at approximately $426,922.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeffrey D. Giles sold 40,000 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 8,217 shares in the company, valued at approximately $362,698.38. The disclosure for this sale can be found here. Insiders have sold 520,500 shares of company stock valued at $25,511,067 over the last three months. 3.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CNM has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Royal Bank of Canada boosted their price target on Core & Main from $59.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Citigroup downgraded Core & Main from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $64.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. increased their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Finally, Truist Financial reaffirmed a “hold” rating and set a $38.00 price objective on shares of Core & Main in a research note on Wednesday, March 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.08.

About Core & Main

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.