Core & Main, Inc. $CNM Shares Acquired by Circumference Group LLC

Circumference Group LLC increased its position in Core & Main, Inc. (NYSE:CNM) by 80.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,000 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Core & Main comprises approximately 5.0% of Circumference Group LLC’s holdings, making the stock its 6th largest position. Circumference Group LLC’s holdings in Core & Main were worth $4,677,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of Core & Main in the fourth quarter valued at $26,000. Whittier Trust Co. acquired a new stake in shares of Core & Main in the fourth quarter valued at $28,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after buying an additional 524 shares during the period. Finally, Quarry LP acquired a new stake in shares of Core & Main in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analyst Ratings Changes

CNM has been the subject of several research analyst reports. Citigroup cut their price objective on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a report on Thursday, June 11th. Barclays cut their price objective on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.73.

Core & Main Trading Down 2.8%

Shares of NYSE CNM opened at $46.43 on Thursday. Core & Main, Inc. has a 12 month low of $43.96 and a 12 month high of $67.18. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.66 and a beta of 0.91. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. The business has a fifty day simple moving average of $49.57 and a 200-day simple moving average of $52.12.

Core & Main (NYSE:CNM) last announced its earnings results on Wednesday, June 10th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.53 by $0.19. Core & Main had a return on equity of 26.17% and a net margin of 5.87%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Core & Main’s revenue was down .1% compared to the same quarter last year. Sell-side analysts predict that Core & Main, Inc. will post 3.06 EPS for the current year.

Insider Buying and Selling at Core & Main

In related news, Director James D. Hope bought 1,972 shares of Core & Main stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $50.70 per share, with a total value of $99,980.40. Following the completion of the acquisition, the director directly owned 6,939 shares in the company, valued at approximately $351,807.30. This trade represents a 39.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the sale, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at approximately $656,750. This represents a 28.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.51% of the company’s stock.

Core & Main Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.