Core & Main, Inc. (NYSE:CNM) Shares Purchased by Foster & Motley Inc.

Foster & Motley Inc. grew its stake in Core & Main, Inc. (NYSE:CNM) by 44.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,239 shares of the company’s stock after purchasing an additional 12,685 shares during the period. Foster & Motley Inc.’s holdings in Core & Main were worth $1,992,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNM. CWM LLC lifted its stake in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Core & Main by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock valued at $343,000 after acquiring an additional 229 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Core & Main by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company’s stock valued at $527,000 after purchasing an additional 272 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after purchasing an additional 278 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Core & Main by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company’s stock worth $1,076,000 after purchasing an additional 330 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNM shares. Citigroup boosted their price objective on Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, June 10th. Wells Fargo & Company boosted their price target on shares of Core & Main from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, May 27th. Royal Bank Of Canada raised their target price on Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, June 10th. Finally, Loop Capital reiterated a “hold” rating and set a $68.00 price target on shares of Core & Main in a research report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.00.

Insider Activity at Core & Main

In other news, insider Stephen O. Leclair sold 80,028 shares of Core & Main stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $62.27, for a total transaction of $4,983,343.56. Following the completion of the sale, the insider directly owned 70,736 shares of the company’s stock, valued at approximately $4,404,730.72. The trade was a 53.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura K. Schneider sold 45,695 shares of the stock in a transaction dated 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 completion of the transaction, the insider 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. Insiders have sold a total of 428,445 shares of company stock worth $26,045,755 over the last ninety days. 3.53% of the stock is currently owned by insiders.

Core & Main Price Performance

Shares of CNM opened at $64.61 on Thursday. The company has a market cap of $12.74 billion, a P/E ratio of 30.05, a PEG ratio of 1.92 and a beta of 1.04. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $65.97. 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 firm’s 50 day moving average price is $59.54 and its 200 day moving average price is $54.23.

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

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.