GAMMA Investing LLC Acquires 871 Shares of Core & Main, Inc. (NYSE:CNM)

GAMMA Investing LLC grew its position in Core & Main, Inc. (NYSE:CNM) by 64.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,219 shares of the company’s stock after buying an additional 871 shares during the period. GAMMA Investing LLC’s holdings in Core & Main were worth $113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Core & Main in the 3rd quarter worth $26,000. ORG Wealth Partners LLC bought a new position in shares of Core & Main in the 3rd quarter valued at about $31,000. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main in the 3rd quarter valued at about $49,000. Brown Brothers Harriman & Co. bought a new position in shares of Core & Main in the 2nd quarter valued at about $76,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Core & Main in the 3rd quarter valued at about $93,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

CNM has been the subject of several analyst reports. 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 report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 target price (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Loop Capital raised their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Barclays raised their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.30.

Core & Main Trading Down 1.3 %

Shares of CNM stock opened at $50.52 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The firm has a 50 day moving average price of $49.07 and a two-hundred day moving average price of $47.80. The company has a market capitalization of $10.04 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 2.95 and a beta of 1.02.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating 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 quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. As a group, analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

In other news, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the sale, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Margaret Newman sold 15,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total value of $828,750.00. Following the sale, the director now directly owns 11,769 shares in the company, valued at $650,237.25. The trade was a 56.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,000 shares of company stock valued at $15,926,000 in the last 90 days. 3.49% of the stock is owned by corporate insiders.

Core & Main Profile

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.