Simon Quick Advisors LLC Sells 1,706 Shares of Core & Main, Inc. (NYSE:CNM)

Simon Quick Advisors LLC cut its position in Core & Main, Inc. (NYSE:CNM) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,682 shares of the company’s stock after selling 1,706 shares during the quarter. Simon Quick Advisors LLC’s holdings in Core & Main were worth $747,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNM. Ashton Thomas Securities LLC bought a new stake in Core & Main in the 3rd quarter valued at about $26,000. ORG Wealth Partners LLC bought a new stake in shares of Core & Main in the third quarter valued at approximately $31,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Core & Main in the third quarter valued at approximately $49,000. UMB Bank n.a. lifted its stake in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Core & Main by 61.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after buying an additional 511 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CNM shares. Loop Capital boosted their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 target price (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Truist Financial increased their price target on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Barclays boosted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.

Insiders Place Their Bets

In related news, Director Margaret Newman sold 15,000 shares of Core & Main stock in a transaction 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 transaction, the director now owns 11,769 shares in the company, valued at $650,237.25. This trade represents a 56.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Bradford A. Cowles sold 50,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the sale, the president now owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. 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 90 days. Insiders own 3.49% of the company’s stock.

Core & Main Trading Up 0.7 %

Shares of Core & Main stock opened at $57.22 on Thursday. 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, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The firm has a market cap of $11.37 billion, a PE ratio of 26.87, a PEG ratio of 3.05 and a beta of 1.02. The company has a 50 day simple moving average of $50.81 and a two-hundred day simple moving average of $48.13.

Core & Main (NYSE:CNM) last posted its quarterly earnings data 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. The company had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. Analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

About Core & Main

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.