Core & Main, Inc. (NYSE:CNM) Shares Sold by NBC Securities Inc.

NBC Securities Inc. reduced its position in Core & Main, Inc. (NYSE:CNM) by 5.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,772 shares of the company’s stock after selling 736 shares during the quarter. NBC Securities Inc.’s holdings in Core & Main were worth $673,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Quadrant Capital Group LLC lifted its holdings in shares of Core & Main by 74.5% during the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Quarry LP lifted its holdings in shares of Core & Main by 87.0% during the fourth quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after purchasing an additional 888 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Core & Main in the third quarter worth $28,000. GAMMA Investing LLC purchased a new position in Core & Main in the fourth quarter worth $41,000. Finally, National Bank of Canada FI raised its position in Core & Main by 8.3% in the fourth quarter. National Bank of Canada FI now owns 13,000 shares of the company’s stock worth $515,000 after acquiring an additional 999 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Loop Capital increased their price objective on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Truist Financial cut their price objective on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Barclays raised their price target on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group raised their price target on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research report on Tuesday, March 26th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.90.

Insiders Place Their Bets

In other Core & Main news, CAO John Weldon Stephens sold 15,000 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $57.91, for a total value of $868,650.00. Following the sale, the chief accounting officer now directly owns 4,281 shares of the company’s stock, valued at approximately $247,912.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $59.50, for a total value of $2,975,000.00. Following the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at approximately $1,421,931. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John Weldon Stephens sold 15,000 shares of Core & Main stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,281 shares in the company, valued at $247,912.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,000 shares of company stock valued at $13,191,217. Insiders own 3.49% of the company’s stock.

Core & Main Trading Up 2.3 %

Core & Main stock opened at $51.72 on Thursday. The stock has a market cap of $10.42 billion, a PE ratio of 24.17, a P/E/G ratio of 1.84 and a beta of 1.12. The stock has a 50-day moving average price of $56.03 and a 200 day moving average price of $49.03. Core & Main, Inc. has a 52 week low of $27.75 and a 52 week high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Equities research analysts predict that Core & Main, Inc. will post 2.47 earnings per share for the current fiscal year.

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.