Hunter Perkins Capital Management LLC Sells 1,240 Shares of Core & Main, Inc. (NYSE:CNM)

Hunter Perkins Capital Management LLC lowered its position in Core & Main, Inc. (NYSE:CNM) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,385 shares of the company’s stock after selling 1,240 shares during the quarter. Hunter Perkins Capital Management LLC’s holdings in Core & Main were worth $529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV lifted its stake in Core & Main by 20.6% in the 4th quarter. KBC Group NV now owns 1,639,138 shares of the company’s stock valued at $83,449,000 after purchasing an additional 280,183 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Core & Main in the fourth quarter valued at approximately $2,702,000. Blue Trust Inc. boosted its stake in shares of Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after acquiring an additional 830 shares during the period. Andina Capital Management LLC boosted its stake in shares of Core & Main by 6.5% during the 4th quarter. Andina Capital Management LLC now owns 9,274 shares of the company’s stock worth $472,000 after acquiring an additional 567 shares during the period. Finally, Fifth Third Bancorp increased its holdings in shares of Core & Main by 2.8% during the 4th quarter. Fifth Third Bancorp now owns 13,589 shares of the company’s stock worth $692,000 after acquiring an additional 374 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citigroup raised their price objective on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Robert W. Baird upped their target price on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. 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 report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. One research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.30.

Insider Activity

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Bradford A. Cowles sold 50,000 shares of the firm’s stock in a transaction on 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 transaction, the president now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 427,426 shares of company stock worth $22,923,825. Insiders own 3.49% of the company’s stock.

Core & Main Stock Down 0.8 %

CNM stock opened at $56.41 on Monday. The firm has a 50-day moving average price of $51.39 and a 200-day moving average price of $48.22. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $11.21 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The business 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 quarter in the prior year, the firm earned $0.65 EPS. As a group, equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Core & Main Company 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.