SG Americas Securities LLC Has $1.70 Million Position in Core & Main, Inc. (NYSE:CNM)

SG Americas Securities LLC boosted its holdings in Core & Main, Inc. (NYSE:CNMFree Report) by 96.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,940 shares of the company’s stock after purchasing an additional 20,591 shares during the quarter. SG Americas Securities LLC’s holdings in Core & Main were worth $1,695,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Core & Main in the 3rd quarter valued at $28,000. Penserra Capital Management LLC bought a new position in Core & Main during the 2nd quarter valued at $31,000. Harbor Investment Advisory LLC bought a new position in Core & Main during the 3rd quarter valued at $33,000. PNC Financial Services Group Inc. bought a new position in Core & Main during the 2nd quarter valued at $43,000. Finally, Kepos Capital LP bought a new position in Core & Main during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $57.91, for a total transaction of $2,895,500.00. Following the completion of the transaction, the general counsel now owns 12,933 shares of the company’s stock, valued at approximately $748,950.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Jeffrey D. Giles sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $40.64, for a total transaction of $1,625,600.00. Following the completion of the transaction, the vice president now owns 8,217 shares of the company’s stock, valued at $333,938.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $57.91, for a total value of $2,895,500.00. Following the transaction, the general counsel now directly owns 12,933 shares of the company’s stock, valued at approximately $748,950.03. The disclosure for this sale can be found here. Insiders sold 46,334,043 shares of company stock valued at $1,836,262,410 in the last quarter. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Trading Up 0.8 %

Shares of Core & Main stock opened at $57.23 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. The stock has a market capitalization of $12.37 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.85 and a beta of 1.11. Core & Main, Inc. has a 52-week low of $21.75 and a 52-week high of $58.26. The stock’s 50-day simple moving average is $47.09 and its 200 day simple moving average is $38.60.

Core & Main (NYSE:CNMGet Free Report) last posted its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. As a group, research analysts anticipate that Core & Main, Inc. will post 2.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNM. JPMorgan Chase & Co. raised their price objective on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Truist Financial restated a “hold” rating and set a $38.00 price objective on shares of Core & Main in a research note on Wednesday, March 20th. Barclays lifted their target price on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Loop Capital lifted their target price on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Citigroup lifted their target price on Core & Main from $48.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.00.

View Our Latest Research Report on Core & Main

Core & Main Profile

(Free Report)

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.

Further Reading

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Institutional Ownership by Quarter for Core & Main (NYSE:CNM)

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