Crossmark Global Holdings Inc. Grows Position in Core & Main, Inc. (NYSE:CNM)

Crossmark Global Holdings Inc. raised its holdings in Core & Main, Inc. (NYSE:CNMFree Report) by 19.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,175 shares of the company’s stock after acquiring an additional 4,690 shares during the period. Crossmark Global Holdings Inc.’s holdings in Core & Main were worth $1,179,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Quadrant Capital Group LLC raised its holdings in shares of Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after acquiring an additional 365 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Core & Main during the 3rd quarter valued at about $28,000. GAMMA Investing LLC purchased a new position in shares of Core & Main during the 4th quarter valued at about $41,000. National Bank of Canada FI raised its holdings in shares of Core & Main by 8.3% during the 4th quarter. National Bank of Canada FI now owns 13,000 shares of the company’s stock valued at $515,000 after buying an additional 999 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Core & Main by 10.8% during the 4th quarter. Fifth Third Bancorp now owns 10,301 shares of the company’s stock valued at $416,000 after buying an additional 1,001 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently 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 report on Tuesday, March 26th. Barclays raised their price objective on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. 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 report on Tuesday, March 19th. Truist Financial decreased their price objective on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Core & Main in a research note on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average target price of $51.08.

View Our Latest Analysis on CNM

Insider Transactions at Core & Main

In other news, CAO John Weldon Stephens sold 5,503 shares of Core & Main stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $54.23, for a total value of $298,427.69. Following the sale, the chief accounting officer now directly owns 4,281 shares in the company, valued at approximately $232,158.63. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO John Weldon Stephens sold 5,503 shares of Core & Main stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $54.23, for a total transaction of $298,427.69. Following the sale, the chief accounting officer now directly owns 4,281 shares in the company, valued at $232,158.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $58.51, for a total value of $2,925,500.00. Following the sale, the chief financial officer now owns 23,898 shares in the company, valued at $1,398,271.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 230,000 shares of company stock worth $13,191,217. 3.49% of the stock is currently owned by insiders.

Core & Main Price Performance

Shares of CNM stock opened at $47.51 on Monday. The firm has a market cap of $9.57 billion, a P/E ratio of 22.20, a P/E/G ratio of 1.67 and a beta of 1.12. Core & Main, Inc. has a fifty-two week low of $27.06 and a fifty-two week high of $62.15. The business’s 50 day moving average price is $57.22 and its 200-day moving average price is $48.30. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.30 and a current ratio of 2.14.

Core & Main (NYSE:CNMGet Free Report) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. Core & Main’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.50 earnings per share. On average, equities research analysts anticipate that Core & Main, Inc. will post 2.47 earnings per share for the current year.

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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