Sei Investments Co. Sells 23,865 Shares of Core & Main, Inc. (NYSE:CNM)

Sei Investments Co. decreased its stake in Core & Main, Inc. (NYSE:CNM) by 20.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 93,361 shares of the company’s stock after selling 23,865 shares during the quarter. Sei Investments Co.’s holdings in Core & Main were worth $4,753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its position in Core & Main by 6.3% during the fourth quarter. American Century Companies Inc. now owns 1,384,886 shares of the company’s stock valued at $70,505,000 after purchasing an additional 81,706 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Core & Main by 104.2% during the 4th quarter. Teacher Retirement System of Texas now owns 50,670 shares of the company’s stock worth $2,580,000 after purchasing an additional 25,851 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Core & Main by 1.3% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,810,739 shares of the company’s stock valued at $194,005,000 after buying an additional 48,833 shares during the last quarter. Algebris UK Ltd bought a new position in shares of Core & Main in the fourth quarter valued at $833,000. Finally, Chesapeake Capital Corp IL acquired a new position in Core & Main during the fourth quarter worth $223,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

CNM stock opened at $50.92 on Thursday. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock has a 50-day moving average price of $51.46 and a 200-day moving average price of $49.08. The firm has a market cap of $10.12 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

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 the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm’s revenue was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

CNM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research note on Tuesday. They issued a “buy” rating and a $60.00 price target for the company. Robert W. Baird cut their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Truist Financial lifted their price target on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Royal Bank of Canada dropped their price objective on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Finally, Loop Capital lifted their target price on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and a consensus price target of $57.55.

Insider Activity at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares of the company’s stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.50, for a total transaction of $631,250.00. Following the sale, the president now owns 16,010 shares of the company’s stock, valued at $808,505. This trade represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock valued at $9,383,685 over the last 90 days. Insiders own 3.49% of the company’s stock.

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.