Everence Capital Management Inc. Purchases Shares of 5,630 Core & Main, Inc. (NYSE:CNM)

Everence Capital Management Inc. bought a new stake in Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,630 shares of the company’s stock, valued at approximately $287,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Eagle Asset Management Inc. increased its position in shares of Core & Main by 2.6% in the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock worth $74,979,000 after acquiring an additional 44,282 shares in the last quarter. Quest Partners LLC increased its holdings in Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after purchasing an additional 11,956 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in Core & Main in the third quarter valued at about $774,000. South Street Advisors LLC acquired a new position in shares of Core & Main during the second quarter worth about $8,427,000. Finally, Douglass Winthrop Advisors LLC lifted its stake in shares of Core & Main by 23.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock worth $3,120,000 after purchasing an additional 13,263 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CNM shares. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Loop Capital upped their price objective 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. Truist Financial lifted their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday. One 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’s stock. Based on data from MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and an average target price of $57.30.

Core & Main Price Performance

CNM opened at $50.95 on Wednesday. The firm has a market capitalization of $10.12 billion, a P/E ratio of 23.92, a PEG ratio of 2.95 and a beta of 1.02. The stock has a fifty day moving average of $48.67 and a 200-day moving average of $47.75. 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.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the company posted $0.65 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Core & Main news, President Bradford A. Cowles sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 18,423 shares in the company, valued at $1,014,554.61. This trade represents a 73.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret Newman sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total value of $828,750.00. Following the completion of the transaction, 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. Over the last quarter, insiders have sold 290,000 shares of company stock worth $15,926,000. Insiders own 3.49% of the company’s stock.

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.