South Street Advisors LLC Reduces Holdings in Core & Main, Inc. (NYSE:CNM)

South Street Advisors LLC trimmed its position in shares of Core & Main, Inc. (NYSE:CNM) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 230,884 shares of the company’s stock after selling 3,260 shares during the quarter. Core & Main makes up approximately 1.8% of South Street Advisors LLC’s investment portfolio, making the stock its 24th largest position. South Street Advisors LLC owned about 0.12% of Core & Main worth $11,754,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main in the 3rd quarter valued at $49,000. UMB Bank n.a. grew 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 valued at $49,000 after buying an additional 684 shares in the last quarter. Blue Trust Inc. grew its holdings in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after buying an additional 830 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Core & Main in the 4th quarter valued at $78,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Price Performance

CNM opened at $47.84 on Tuesday. The stock’s 50-day moving average price is $52.53 and its 200 day moving average price is $48.48. 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. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.61 and a beta of 1.05.

Analyst Ratings Changes

Several analysts have issued reports on CNM shares. Truist Financial upped their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Barclays upped their target price on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Robert W. Baird increased their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company increased their price target on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. One research 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. Based on data from MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Insider Buying and Selling

In related news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. This represents a 20.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. The trade was a 43.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,294 shares of company stock valued at $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.