Core & Main, Inc. (NYSE:CNM) Shares Acquired by Meritage Portfolio Management

Meritage Portfolio Management lifted its holdings in Core & Main, Inc. (NYSE:CNM) by 7.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,502 shares of the company’s stock after purchasing an additional 923 shares during the period. Meritage Portfolio Management’s holdings in Core & Main were worth $687,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the third quarter worth $26,000. ORG Wealth Partners LLC purchased a new position in Core & Main in the third quarter valued at $31,000. Avior Wealth Management LLC grew its stake in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the 3rd quarter worth about $49,000. Finally, UMB Bank n.a. raised its position in Core & Main by 246.0% in 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. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Activity

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,426 shares of company stock valued at $22,923,825. 3.49% of the stock is currently owned by company insiders.

Core & Main Stock Performance

NYSE CNM opened at $54.56 on Thursday. The company has a fifty day moving average of $53.04 and a two-hundred day moving average of $48.49. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a market capitalization of $10.84 billion, a PE ratio of 25.62, a P/E/G ratio of 3.12 and a beta of 1.03.

Core & Main (NYSE:CNM) last announced its earnings results 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. The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations 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 was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. As a group, analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNM. Robert W. Baird boosted their price objective on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Loop Capital boosted their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Barclays boosted their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price target on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.