Core & Main, Inc. (NYSE:CNM) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its holdings in Core & Main, Inc. (NYSE:CNM) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,354 shares of the company’s stock after selling 380 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Core & Main were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Avior Wealth Management LLC grew its holdings in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main in the 3rd quarter valued at $49,000. UMB Bank n.a. increased its stake in Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after purchasing an additional 684 shares in the last quarter. Blue Trust Inc. raised its holdings in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after buying an additional 830 shares during the period. Finally, R Squared Ltd acquired a new stake in Core & Main during the 4th quarter worth about $78,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

CNM opened at $48.17 on Friday. The stock has a fifty day moving average price of $49.89 and a 200 day moving average price of $49.23. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The stock has a market cap of $9.53 billion, a price-to-earnings ratio of 22.62, a PEG 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). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Core & Main news, CAO John Weldon Stephens sold 41,963 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the sale, the chief accounting officer now owns 4,120 shares of the company’s stock, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the stock in a transaction dated Monday, March 10th. The shares were 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 directly owns 16,452 shares in the company, valued at approximately $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 103,305 shares of company stock valued at $5,289,169 over the last ninety days. Corporate insiders own 3.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CNM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price on the stock. Citigroup lifted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Royal Bank of Canada reduced their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Robert W. Baird decreased their target price on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company upped their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.55.

Core & Main Company 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.