Diametric Capital LP Sells 2,450 Shares of Core & Main, Inc. (NYSE:CNM)

Diametric Capital LP lowered its position in shares of Core & Main, Inc. (NYSE:CNM) by 31.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,332 shares of the company’s stock after selling 2,450 shares during the quarter. Diametric Capital LP’s holdings in Core & Main were worth $271,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted 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 valued at $41,000 after purchasing an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the third quarter valued at $49,000. UMB Bank n.a. increased its holdings in Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after buying an additional 684 shares in the last quarter. Blue Trust Inc. raised its position in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after buying an additional 830 shares during the last quarter. Finally, R Squared Ltd bought a new position in Core & Main during the 4th quarter valued at about $78,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNM. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday. They issued a “buy” rating and a $60.00 price target for the company. Citigroup boosted their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Barclays raised their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial upped their price objective on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.55.

Core & Main Trading Up 2.2 %

Shares of NYSE:CNM opened at $49.36 on Wednesday. The stock has a 50 day moving average of $51.58 and a 200 day moving average of $49.07. The company has a market cap of $9.81 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. 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 posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 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 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, equities research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current year.

Insiders Place Their Bets

In related news, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at $808,505. The trade was a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,294 shares of company stock worth $9,383,685. Corporate insiders own 3.49% of the company’s stock.

Core & Main Company 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.