Raymond James Financial Services Advisors Inc. Sells 447 Shares of Core & Main, Inc. (NYSE:CNM)

Raymond James Financial Services Advisors Inc. cut its stake in shares of Core & Main, Inc. (NYSE:CNM) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,098 shares of the company’s stock after selling 447 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Core & Main were worth $1,055,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. CoreCap Advisors LLC bought a new position in Core & Main during the 4th quarter valued at $366,000. Legato Capital Management LLC bought a new position in Core & Main during the 4th quarter valued at $548,000. SG Americas Securities LLC lifted its stake in Core & Main by 96.4% during the 4th quarter. SG Americas Securities LLC now owns 41,940 shares of the company’s stock valued at $1,695,000 after acquiring an additional 20,591 shares in the last quarter. Renaissance Capital LLC lifted its stake in Core & Main by 59.0% during the 4th quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock valued at $3,458,000 after acquiring an additional 31,740 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Core & Main by 328.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock valued at $3,186,000 after acquiring an additional 60,435 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Core & Main

In other Core & Main news, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the completion of the transaction, the chief financial officer now owns 23,898 shares of the company’s stock, valued at approximately $1,398,271.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Core & Main news, VP Jeffrey D. Giles sold 40,000 shares of Core & Main stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.14, for a total transaction of $1,765,600.00. Following the completion of the transaction, the vice president now owns 8,217 shares of the company’s stock, valued at approximately $362,698.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark R. Witkowski sold 50,000 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $58.51, for a total value of $2,925,500.00. Following the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at approximately $1,398,271.98. The disclosure for this sale can be found here. Insiders sold 23,413,315 shares of company stock valued at $962,796,259 in the last quarter. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Trading Down 1.5 %

Shares of Core & Main stock opened at $56.34 on Monday. Core & Main, Inc. has a 52-week low of $24.40 and a 52-week high of $60.83. The stock’s 50-day simple moving average is $50.70 and its 200 day simple moving average is $40.98. The stock has a market capitalization of $11.35 billion, a P/E ratio of 26.20, a P/E/G ratio of 1.74 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29.

Core & Main (NYSE:CNM) 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 2.59 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on CNM. The Goldman Sachs Group raised their price objective on Core & Main from $42.00 to $61.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. lifted their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. 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. Royal Bank of Canada lifted their target price on Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Finally, Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $63.00 to $64.00 in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.08.

Core & Main Profile

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.