Core & Main, Inc. (NYSE:CNM) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC cut its stake in Core & Main, Inc. (NYSE:CNM) by 5.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,734 shares of the company’s stock after selling 286 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Core & Main were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNM. Fifth Third Bancorp boosted its position in Core & Main by 41.1% during the second quarter. Fifth Third Bancorp now owns 13,051 shares of the company’s stock worth $639,000 after purchasing an additional 3,799 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Core & Main by 8.1% during the 2nd quarter. Retirement Systems of Alabama now owns 231,482 shares of the company’s stock valued at $11,329,000 after acquiring an additional 17,276 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Core & Main by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 1,421,219 shares of the company’s stock valued at $69,554,000 after purchasing an additional 136,189 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Core & Main by 1.5% in the second quarter. Principal Financial Group Inc. now owns 1,286,389 shares of the company’s stock valued at $62,956,000 after purchasing an additional 19,012 shares during the last quarter. Finally, Peregrine Capital Management LLC increased its stake in shares of Core & Main by 10.9% during the 2nd quarter. Peregrine Capital Management LLC now owns 215,590 shares of the company’s stock worth $10,551,000 after purchasing an additional 21,246 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Core & Main

In related news, President Bradford A. Cowles sold 50,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total transaction of $2,753,500.00. Following the completion of the sale, the president now owns 18,423 shares of the company’s stock, valued at approximately $1,014,554.61. This represents a 73.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the transaction, the chief executive officer now owns 92,349 shares in the company, valued at $5,068,113.12. The trade was a 68.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,000 shares of company stock worth $15,926,000 in the last three months. 3.49% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on CNM shares. Truist Financial increased their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. cut their target price on shares of Core & Main from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. The Goldman Sachs Group lifted their price target on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Robert W. Baird boosted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Loop Capital raised their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $58.10.

Core & Main Price Performance

Core & Main stock opened at $50.54 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 2.95 and a beta of 1.04. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The firm has a 50 day moving average price of $47.32 and a 200 day moving average price of $47.64.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $2.04 billion during 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 business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 EPS. Sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.