UMB Bank n.a. Purchases 1,295 Shares of Core & Main, Inc. (NYSE:CNM)

UMB Bank n.a. boosted its position in Core & Main, Inc. (NYSE:CNM) by 134.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,257 shares of the company’s stock after buying an additional 1,295 shares during the period. UMB Bank n.a.’s holdings in Core & Main were worth $109,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after buying an additional 532 shares in the last quarter. Versant Capital Management Inc increased its position in Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock valued at $56,000 after buying an additional 1,089 shares in the last quarter. Quadrant Capital Group LLC increased its position in Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after buying an additional 278 shares in the last quarter. Blue Trust Inc. boosted its stake in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares during the last quarter. Finally, Ancora Advisors LLC bought a new stake in Core & Main during the 4th quarter worth approximately $75,000. 94.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Core & Main

In other Core & Main news, EVP John R. Schaller sold 9,794 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total transaction of $538,670.00. Following the completion of the transaction, the executive vice president now directly owns 19,689 shares of the company’s stock, valued at approximately $1,082,895. This represents a 33.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the transaction, the chief accounting officer now directly owns 4,120 shares of the company’s stock, valued at approximately $218,442.40. This trade represents a 71.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,666 shares of company stock valued at $8,770,352. Company insiders own 3.53% of the company’s stock.

Core & Main Stock Performance

CNM stock opened at $56.70 on Friday. The firm has a market cap of $11.22 billion, a PE ratio of 26.62, a P/E/G ratio of 2.61 and a beta of 1.02. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The business has a 50 day moving average of $52.71 and a 200-day moving average of $51.95. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $60.38.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

CNM has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup boosted their price objective on Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a report on Tuesday. Robert W. Baird decreased their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Loop Capital boosted their price objective on Core & Main from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.55.

Core & Main 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.