17,154 Shares in Core & Main, Inc. (NYSE:CNM) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 17,154 shares of the company’s stock, valued at approximately $840,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNM. Quarry LP increased its stake in shares of Core & Main by 87.0% during the fourth quarter. Quarry LP now owns 1,909 shares of the company’s stock valued at $77,000 after acquiring an additional 888 shares during the period. Teachers Retirement System of The State of Kentucky bought a new position in Core & Main during the 4th quarter valued at $1,414,000. American International Group Inc. increased its position in shares of Core & Main by 20,185.1% during the 4th quarter. American International Group Inc. now owns 184,594 shares of the company’s stock valued at $7,459,000 after purchasing an additional 183,684 shares during the period. Wellington Management Group LLP raised its stake in shares of Core & Main by 486.6% in the 4th quarter. Wellington Management Group LLP now owns 350,547 shares of the company’s stock worth $14,166,000 after buying an additional 290,792 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Core & Main by 41.4% in the fourth quarter. Vanguard Group Inc. now owns 13,417,484 shares of the company’s stock valued at $542,201,000 after buying an additional 3,926,588 shares during the period. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Up 0.6 %

CNM stock opened at $44.05 on Friday. The firm has a market cap of $8.86 billion, a PE ratio of 21.08, a PEG ratio of 2.83 and a beta of 1.02. Core & Main, Inc. has a 1 year low of $29.13 and a 1 year high of $62.15. The company has a fifty day simple moving average of $45.58 and a 200 day simple moving average of $51.29. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. Core & Main’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.66 EPS. Sell-side analysts anticipate that Core & Main, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CNM shares. Robert W. Baird dropped their price target on shares of Core & Main from $62.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. The Goldman Sachs Group cut their target price on shares of Core & Main from $57.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. dropped their price target on Core & Main from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Bank of America reduced their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a research note on Thursday, September 5th. Finally, Truist Financial cut their target price on Core & Main from $50.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.50.

Insider Buying and Selling at Core & Main

In other news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the transaction, the director now owns 11,769 shares of the company’s stock, valued at $614,577.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.49% of the company’s stock.

Core & Main Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.