Simon Quick Advisors LLC Decreases Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Simon Quick Advisors LLC lowered its position in shares of Core & Main, Inc. (NYSE:CNM) by 10.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,682 shares of the company’s stock after selling 1,706 shares during the quarter. Simon Quick Advisors LLC’s holdings in Core & Main were worth $747,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in shares of Core & Main by 153.8% during the second quarter. Envestnet Asset Management Inc. now owns 126,729 shares of the company’s stock worth $6,202,000 after purchasing an additional 76,804 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Core & Main by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,818,679 shares of the company’s stock worth $89,007,000 after buying an additional 238,469 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Core & Main by 5.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 13,247 shares of the company’s stock worth $648,000 after buying an additional 705 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Core & Main during the second quarter valued at approximately $243,000. Finally, Xponance Inc. raised its holdings in shares of Core & Main by 40.1% during the second quarter. Xponance Inc. now owns 28,645 shares of the company’s stock valued at $1,402,000 after acquiring an additional 8,206 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of CNM opened at $57.22 on Thursday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market cap of $11.37 billion, a P/E ratio of 26.87, a P/E/G ratio of 3.05 and a beta of 1.02. The business’s 50 day moving average price is $50.81 and its 200-day moving average price is $48.13. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15.

Core & Main (NYSE:CNM) last announced its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in 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 report on Wednesday, December 4th. Barclays boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Citigroup raised their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company upped their target price on Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group increased their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.30.

Insider Buying and Selling

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 427,426 shares of company stock worth $22,923,825 in the last quarter. Corporate insiders own 3.49% of the company’s stock.

About Core & Main

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.