Exchange Traded Concepts LLC Has $1.81 Million Stock Position in Core & Main, Inc. (NYSE:CNM)

Exchange Traded Concepts LLC reduced its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 38.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,455 shares of the company’s stock after selling 22,442 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Core & Main were worth $1,805,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CNM. Ashton Thomas Securities LLC bought a new position in shares of Core & Main during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new position in shares of Core & Main during the 3rd quarter worth approximately $31,000. Avior Wealth Management LLC grew its stake in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after acquiring an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Core & Main during the 3rd quarter worth approximately $49,000. Finally, UMB Bank n.a. grew its stake in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after acquiring an additional 684 shares in the last quarter. 94.19% of the stock is owned by institutional investors.

Core & Main Stock Down 0.8 %

CNM stock opened at $56.41 on Monday. 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 firm has a market capitalization of $11.21 billion, a PE ratio of 26.49, a PEG ratio of 3.16 and a beta of 1.02. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The business’s 50 day simple moving average is $51.39 and its 200 day simple moving average is $48.22.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates 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 was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. As a group, research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen O. Leclair sold 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total value of $10,976,000.00. Following the completion of the transaction, the chief executive officer now directly owns 92,349 shares in the company, valued at approximately $5,068,113.12. This represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 427,426 shares of company stock valued at $22,923,825. 3.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Loop Capital raised their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” 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 research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.30.

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.