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

Peregrine Capital Management LLC trimmed its stake in Core & Main, Inc. (NYSE:CNM) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 218,391 shares of the company’s stock after selling 18,918 shares during the quarter. Peregrine Capital Management LLC owned about 0.11% of Core & Main worth $11,118,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in shares of Core & Main in the 4th quarter worth approximately $89,000. Truist Financial Corp increased its stake in Core & Main by 3.2% in the 4th quarter. Truist Financial Corp now owns 581,845 shares of the company’s stock worth $29,622,000 after purchasing an additional 17,899 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Core & Main by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after purchasing an additional 287 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Core & Main in the 4th quarter valued at about $201,000. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in shares of Core & Main by 9.3% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 8,838 shares of the company’s stock valued at $450,000 after buying an additional 752 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Core & Main

In other news, President Bradford A. Cowles sold 50,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the sale, the president now owns 18,423 shares in the company, valued at $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen O. Leclair sold 200,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total value of $10,976,000.00. Following the completion of the transaction, the chief executive officer now owns 92,349 shares in the company, valued at approximately $5,068,113.12. This represents a 68.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 452,426 shares of company stock valued at $24,285,825 in the last three months. Corporate insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

Core & Main stock opened at $54.22 on Tuesday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock has a fifty day moving average price of $53.41 and a two-hundred day moving average price of $48.58. The firm has a market capitalization of $10.77 billion, a P/E ratio of 25.46, a P/E/G ratio of 2.75 and a beta of 1.03.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Barclays boosted their price target on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Robert W. Baird raised their price objective on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price objective (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Finally, Citigroup raised their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.60.

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.