Headlands Technologies LLC Sells 2,737 Shares of Core & Main, Inc. (NYSE:CNM)

Headlands Technologies LLC decreased its stake in Core & Main, Inc. (NYSE:CNM) by 77.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 797 shares of the company’s stock after selling 2,737 shares during the quarter. Headlands Technologies LLC’s holdings in Core & Main were worth $39,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Core & Main in the first quarter valued at about $27,000. Quadrant Capital Group LLC boosted its stake in Core & Main by 74.5% in the 4th 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. ORG Partners LLC bought a new position in Core & Main in the 1st quarter worth approximately $38,000. Principal Securities Inc. bought a new stake in shares of Core & Main during the fourth quarter valued at approximately $43,000. Finally, Quarry LP lifted its holdings in shares of Core & Main by 87.0% in the fourth quarter. Quarry LP now owns 1,909 shares of the company’s stock worth $77,000 after buying an additional 888 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 3.5 %

Shares of CNM stock opened at $42.72 on Wednesday. Core & Main, Inc. has a twelve month low of $27.75 and a twelve month high of $62.15. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.52 and a beta of 1.04. The company’s 50-day moving average price is $48.43 and its 200-day moving average price is $52.34. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.13). The company had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. As a group, equities analysts predict that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Core & Main declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of research analyst reports. Loop Capital decreased their target price on Core & Main from $64.00 to $52.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Barclays decreased their price objective on Core & Main from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. cut their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. The Goldman Sachs Group decreased their price target on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Finally, Robert W. Baird dropped their price objective on shares of Core & Main from $62.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.30.

Insider Activity

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares of the company’s stock, valued at approximately $614,577.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.49% of the company’s stock.

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.