Corient Private Wealth LLC Buys 599 Shares of Core & Main, Inc. (NYSE:CNM)

Corient Private Wealth LLC grew its position in Core & Main, Inc. (NYSE:CNM) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,117 shares of the company’s stock after purchasing an additional 599 shares during the quarter. Corient Private Wealth LLC’s holdings in Core & Main were worth $362,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CNM. Avior Wealth Management LLC raised its stake in Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main during the third quarter worth approximately $49,000. UMB Bank n.a. grew its position in Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares during the period. Blue Trust Inc. increased 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 in the last quarter. Finally, R Squared Ltd acquired a new position in Core & Main during the fourth quarter worth $78,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reduced their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Loop Capital raised their target price on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird lowered their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Barclays raised their target price on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. One investment 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.30.

Insider Activity at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. This represents a 86.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John R. Schaller sold 60,452 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now directly owns 17,898 shares in the company, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 184,294 shares of company stock worth $9,383,685. Insiders own 3.49% of the company’s stock.

Core & Main Price Performance

NYSE CNM opened at $48.46 on Monday. The business’s fifty day moving average is $51.87 and its 200 day moving average is $48.95. The company has a market capitalization of $9.63 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue was up 17.9% on a year-over-year basis. Sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

About Core & Main

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.