Core & Main, Inc. (NYSE:CNM) Shares Bought by Headlands Technologies LLC

Headlands Technologies LLC raised its holdings in Core & Main, Inc. (NYSE:CNM) by 50.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,534 shares of the company’s stock after purchasing an additional 1,184 shares during the period. Headlands Technologies LLC’s holdings in Core & Main were worth $202,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rise Advisors LLC acquired a new stake in Core & Main in the first quarter valued at approximately $27,000. Quadrant Capital Group LLC boosted its stake in shares of Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after acquiring an additional 365 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Core & Main in the first quarter worth approximately $38,000. GAMMA Investing LLC acquired a new stake in shares of Core & Main in the fourth quarter worth approximately $41,000. Finally, Principal Securities Inc. acquired a new stake in shares of Core & Main in the fourth quarter worth approximately $43,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CNM shares. Loop Capital lifted 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 boosted their price objective on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price objective on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group boosted their price objective on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 26th. Finally, Truist Financial lowered their price objective on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus price target of $52.90.

Insider Activity at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $54.08, for a total transaction of $2,704,000.00. Following the completion of the transaction, the general counsel now directly owns 12,933 shares of the company’s stock, valued at approximately $699,416.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO John Weldon Stephens sold 9,497 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $54.08, for a total value of $2,704,000.00. Following the transaction, the general counsel now directly owns 12,933 shares of the company’s stock, valued at $699,416.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,200 shares of company stock worth $6,511,569. 3.49% of the stock is currently owned by company insiders.

Core & Main Trading Up 5.3 %

NYSE:CNM traded up $2.74 on Tuesday, reaching $54.28. The company’s stock had a trading volume of 1,648,610 shares, compared to its average volume of 2,538,706. Core & Main, Inc. has a 12-month low of $27.75 and a 12-month high of $62.15. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. The stock has a 50 day moving average price of $53.51 and a 200 day moving average price of $50.51.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.02). The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. Core & Main’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 EPS. On average, equities analysts anticipate that Core & Main, Inc. will post 2.32 EPS for the current fiscal year.

Core & Main Company 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.