Janney Montgomery Scott LLC Has $1.32 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Janney Montgomery Scott LLC lowered its stake in Core & Main, Inc. (NYSE:CNM) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,950 shares of the company’s stock after selling 1,250 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Core & Main were worth $1,321,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Clear Harbor Asset Management LLC lifted its holdings in shares of Core & Main by 0.8% during the fourth quarter. Clear Harbor Asset Management LLC now owns 235,911 shares of the company’s stock worth $12,010,000 after purchasing an additional 1,971 shares during the period. Perpetual Ltd grew its holdings in Core & Main by 42.7% during the 4th quarter. Perpetual Ltd now owns 199,061 shares of the company’s stock worth $10,134,000 after acquiring an additional 59,575 shares during the period. UMB Bank n.a. boosted its position in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares in the last quarter. Avanza Fonder AB bought a new stake in shares of Core & Main in the 4th quarter valued at $97,000. Finally, Border to Coast Pensions Partnership Ltd increased its stake in Core & Main by 11.8% in the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 469,842 shares of the company’s stock valued at $23,904,000 after purchasing an additional 49,619 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of the company’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total value of $675,875.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at $865,660.70. This represents a 43.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. 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. 3.49% of the stock is currently owned by insiders.

Core & Main Stock Down 1.9 %

CNM opened at $54.73 on Wednesday. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The firm’s 50 day simple moving average is $52.89 and its two-hundred day simple moving average is $48.44. 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 company has a market capitalization of $10.87 billion, a PE ratio of 25.69, a PEG ratio of 3.12 and a beta of 1.03.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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%. Core & Main’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 EPS. As a group, equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on CNM shares. Loop Capital lifted their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup increased their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group increased their target price 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $57.60.

Core & Main 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.