Global Retirement Partners LLC Trims Holdings in Core & Main, Inc. (NYSE:CNM)

Global Retirement Partners LLC trimmed its stake in Core & Main, Inc. (NYSE:CNM) by 13.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,978 shares of the company’s stock after selling 462 shares during the period. Global Retirement Partners LLC’s holdings in Core & Main were worth $152,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CNM. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main in the 3rd quarter valued at approximately $26,000. Avior Wealth Management LLC grew its holdings in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main in the third quarter valued at approximately $49,000. UMB Bank n.a. grew its holdings in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Up 2.2 %

CNM stock opened at $50.76 on Thursday. The company has a fifty day moving average price of $53.34 and a 200 day moving average price of $48.75. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company has a market cap of $10.08 billion, a price-to-earnings ratio of 23.83, a price-to-earnings-growth ratio of 2.61 and a beta of 1.03. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This represents a 20.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the transaction, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 452,426 shares of company stock worth $24,285,825. 3.49% of the stock is owned by insiders.

Analysts Set New Price Targets

CNM has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Robert W. Baird lifted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Barclays lifted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $57.60.

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.