Ritholtz Wealth Management Boosts Stock Position in Core & Main, Inc. (NYSE:CNM)

Ritholtz Wealth Management lifted its holdings in Core & Main, Inc. (NYSE:CNM) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,647 shares of the company’s stock after purchasing an additional 601 shares during the quarter. Ritholtz Wealth Management’s holdings in Core & Main were worth $746,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNM. Envestnet Asset Management Inc. grew its holdings in shares of Core & Main by 153.8% in the second quarter. Envestnet Asset Management Inc. now owns 126,729 shares of the company’s stock valued at $6,202,000 after purchasing an additional 76,804 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Core & Main by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,818,679 shares of the company’s stock valued at $89,007,000 after purchasing an additional 238,469 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Core & Main by 5.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 13,247 shares of the company’s stock valued at $648,000 after purchasing an additional 705 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Core & Main in the second quarter valued at $243,000. Finally, Anomaly Capital Management LP grew its holdings in shares of Core & Main by 35.9% in the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock valued at $176,601,000 after purchasing an additional 953,489 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Core & Main

In related 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 value of $10,976,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,349 shares in the company, valued at $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the sale, the general counsel now owns 7,667 shares of the company’s stock, 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. Insiders sold 427,426 shares of company stock worth $22,923,825 over the last three months. 3.49% of the stock is owned by corporate insiders.

Core & Main Stock Up 0.6 %

NYSE:CNM opened at $55.21 on Tuesday. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 25.92, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02. The stock has a fifty day simple moving average of $50.22 and a 200-day simple moving average of $48.01. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last released 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 business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. Analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Truist Financial raised their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Loop Capital raised their price target on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird raised their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.30.

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.