Clear Harbor Asset Management LLC Grows Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Clear Harbor Asset Management LLC lifted its stake in shares of Core & Main, Inc. (NYSE:CNM) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 235,911 shares of the company’s stock after acquiring an additional 1,971 shares during the quarter. Core & Main makes up approximately 1.0% of Clear Harbor Asset Management LLC’s holdings, making the stock its 22nd biggest holding. Clear Harbor Asset Management LLC’s holdings in Core & Main were worth $12,010,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Core & Main during the 3rd quarter worth about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Core & Main in the 3rd quarter worth approximately $31,000. Wilmington Savings Fund Society FSB purchased a new position in Core & Main during the third quarter valued at approximately $49,000. UMB Bank n.a. increased its holdings in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Core & Main by 61.1% during the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after buying an additional 511 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of NYSE CNM opened at $55.21 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a 50 day simple moving average of $50.22 and a two-hundred day simple moving average of $48.01. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The stock has a market cap of $10.97 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.05 and a beta of 1.02.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CNM. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Loop Capital boosted their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Barclays increased their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Robert W. Baird boosted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.30.

Insider Transactions at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at approximately $423,908.43. This represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total value of $675,875.00. Following the completion of the sale, the president now owns 16,010 shares of the company’s stock, valued at $865,660.70. This trade represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 427,426 shares of company stock valued at $22,923,825 in the last 90 days. 3.49% of the stock is currently owned by company 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.