Gotham Asset Management LLC Decreases Stock Position in Core & Main, Inc. (NYSE:CNM)

Gotham Asset Management LLC lowered its position in Core & Main, Inc. (NYSE:CNM) by 65.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,102 shares of the company’s stock after selling 9,803 shares during the quarter. Gotham Asset Management LLC’s holdings in Core & Main were worth $260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its position in shares of Core & Main by 51.3% during the fourth 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. UMB Bank n.a. raised its position in shares of 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 in the last quarter. Quadrant Capital Group LLC raised its position in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after purchasing an additional 278 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of 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 buying an additional 830 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of Core & Main during the 4th quarter valued at approximately $75,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNM has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Royal Bank of Canada reduced their price objective on shares of Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Robert W. Baird reduced their price objective on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.55.

Core & Main Stock Performance

Shares of CNM opened at $53.46 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The stock has a market capitalization of $10.58 billion, a PE ratio of 25.10, a price-to-earnings-growth ratio of 2.61 and a beta of 1.04. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $61.27. The business’s fifty day moving average price is $50.11 and its 200 day moving average price is $50.60.

Core & Main (NYSE:CNM) last posted its 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). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. Equities research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling at Core & Main

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 value of $541,546.28. Following the sale, the chief accounting officer now directly owns 4,120 shares in the company, 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 can be accessed through this link. Also, EVP John R. Schaller sold 21,868 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 16,452 shares in the company, valued at $770,282.64. The trade was a 57.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,045 shares of company stock worth $3,683,698. 3.49% of the stock is owned by insiders.

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.