GAMMA Investing LLC Increases Stake in Core & Main, Inc. (NYSE:CNM)

GAMMA Investing LLC raised its position in Core & Main, Inc. (NYSE:CNM) by 84.1% in the 1st quarter, Holdings Channel reports. The fund owned 4,086 shares of the company’s stock after acquiring an additional 1,867 shares during the period. GAMMA Investing LLC’s holdings in Core & Main were worth $197,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CNM. Parallel Advisors LLC raised its holdings in Core & Main by 447.1% during the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after purchasing an additional 532 shares in the last quarter. Versant Capital Management Inc increased its position in Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock worth $56,000 after purchasing an additional 1,089 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after buying an additional 278 shares in the last quarter. Ancora Advisors LLC purchased a new position in shares of Core & Main during the 4th quarter worth approximately $75,000. Finally, US Bancorp DE lifted its holdings in shares of Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company’s stock valued at $91,000 after buying an additional 197 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In other Core & Main news, CAO John Weldon Stephens sold 10,214 shares of the firm’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $53.02, for a total transaction of $541,546.28. Following the completion of the transaction, the chief accounting officer owned 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Laura K. Schneider sold 45,695 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total value of $2,570,343.75. Following the sale, the insider directly owned 12,873 shares in the company, valued at approximately $724,106.25. The trade was a 78.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,703 shares of company stock valued at $8,164,310. Corporate insiders own 3.53% of the company’s stock.

Analyst Ratings Changes

CNM has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price objective on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, June 10th. Citigroup boosted their target price on shares of Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Wells Fargo & Company upped their price target on shares of Core & Main from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 10th. Loop Capital increased their price target on shares of Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Finally, Robert W. Baird decreased their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.55.

Core & Main Trading Up 0.8%

NYSE:CNM opened at $62.33 on Friday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.47. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. The stock has a fifty day simple moving average of $55.66 and a 200-day simple moving average of $52.66. The company has a market capitalization of $12.29 billion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.83 and a beta of 1.04.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. On average, equities research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal 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.