Core & Main, Inc. (NYSE:CNM) Stock Holdings Decreased by Quantinno Capital Management LP

Quantinno Capital Management LP lowered its position in shares of Core & Main, Inc. (NYSE:CNM) by 4.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,457 shares of the company’s stock after selling 559 shares during the quarter. Quantinno Capital Management LP’s holdings in Core & Main were worth $597,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CWM LLC raised its stake in Core & Main by 25.6% during the 2nd quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after purchasing an additional 334 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Core & Main by 29.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 32,455 shares of the company’s stock valued at $1,588,000 after buying an additional 7,392 shares during the period. Raymond James & Associates lifted its stake in Core & Main by 3.6% in the 2nd quarter. Raymond James & Associates now owns 436,144 shares of the company’s stock worth $21,345,000 after acquiring an additional 15,091 shares in the last quarter. Fifth Third Bancorp boosted its position in Core & Main by 41.1% during the 2nd quarter. Fifth Third Bancorp now owns 13,051 shares of the company’s stock worth $639,000 after acquiring an additional 3,799 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Core & Main during the 2nd quarter valued at about $253,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

NYSE CNM opened at $52.21 on Friday. The firm has a market cap of $10.50 billion, a P/E ratio of 24.51, a price-to-earnings-growth ratio of 2.95 and a beta of 1.04. The stock’s 50-day moving average is $46.53 and its two-hundred day moving average is $47.79. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business 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 was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. On average, analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Tuesday, September 3rd. The Goldman Sachs Group lifted 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. Robert W. Baird upped their price target 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. Wells Fargo & Company lifted their price objective on Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Truist Financial upped their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.10.

Insiders Place Their Bets

In other news, Director Margaret Newman sold 15,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.25, for a total value of $828,750.00. Following the completion of the sale, the director now directly owns 11,769 shares of the company’s stock, valued at approximately $650,237.25. This represents a 56.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Bradford A. Cowles sold 50,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the transaction, the president now owns 18,423 shares in the company, valued at approximately $1,014,554.61. The trade was a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,000 shares of company stock valued at $15,926,000 in the last quarter. Insiders own 3.49% of the company’s stock.

About Core & Main

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.