Cerity Partners LLC Acquires Shares of 7,245 Core & Main, Inc. (NYSE:CNM)

Cerity Partners LLC acquired a new stake in Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,245 shares of the company’s stock, valued at approximately $293,000.

A number of other hedge funds have also recently bought and sold shares of CNM. Renaissance Capital LLC lifted its stake in shares of Core & Main by 59.0% in the 4th quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock valued at $3,458,000 after purchasing an additional 31,740 shares during the period. State of Michigan Retirement System acquired a new position in shares of Core & Main in the 4th quarter valued at $1,325,000. Exchange Traded Concepts LLC lifted its stake in shares of Core & Main by 328.1% in the 4th quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock valued at $3,186,000 after purchasing an additional 60,435 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Core & Main by 4.4% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock valued at $70,107,000 after purchasing an additional 73,790 shares during the period. Finally, New York State Teachers Retirement System acquired a new position in shares of Core & Main in the 4th quarter valued at $1,805,000. 94.19% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO John Weldon Stephens sold 15,000 shares of the firm’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 $868,650.00. Following the completion of the transaction, the chief accounting officer now owns 4,281 shares in the company, valued at approximately $247,912.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Orvin T. Kimbrough sold 5,000 shares of Core & Main stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $44.17, for a total transaction of $220,850.00. Following the completion of the transaction, the director now owns 9,320 shares in the company, valued at $411,664.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO John Weldon Stephens sold 15,000 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 value of $868,650.00. Following the transaction, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at approximately $247,912.71. The disclosure for this sale can be found here. Insiders sold 520,500 shares of company stock worth $25,511,067 in the last quarter. Corporate insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

CNM opened at $57.32 on Friday. The business’s 50-day moving average price is $53.15 and its two-hundred day moving average price is $42.71. Core & Main, Inc. has a 1 year low of $25.18 and a 1 year high of $60.83. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 1.75 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 2.29 and a quick ratio of 1.30.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Equities analysts expect that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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