Tidal Investments LLC Sells 21,136 Shares of Core & Main, Inc. (NYSE:CNM)

Tidal Investments LLC decreased its position in shares of Core & Main, Inc. (NYSE:CNM) by 56.8% during the 3rd quarter, Holdings Channel reports. The fund owned 16,081 shares of the company’s stock after selling 21,136 shares during the quarter. Tidal Investments LLC’s holdings in Core & Main were worth $714,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CNM. Ashton Thomas Securities LLC acquired a new stake in Core & Main in the third quarter worth $26,000. ORG Wealth Partners LLC bought a new stake in shares of Core & Main in the 3rd quarter valued at $31,000. Wilmington Savings Fund Society FSB acquired a new stake in Core & Main during the 3rd quarter worth $49,000. 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 acquiring an additional 511 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in Core & Main in the second quarter valued at about $76,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Up 0.8 %

Shares of CNM stock opened at $50.54 on Friday. The firm’s fifty day moving average price is $47.32 and its two-hundred day moving average price is $47.64. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. 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 $10.04 billion, a P/E ratio of 23.73, a PEG ratio of 2.95 and a beta of 1.04.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) 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%. Core & Main’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, equities analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CNM has been the topic of a number of research analyst reports. 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 research report on Tuesday, September 3rd. Robert W. Baird raised their target price on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Truist Financial upped their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, Loop Capital increased their target price on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a 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 issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.10.

Insider Transactions at Core & Main

In other Core & Main news, CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the transaction, the chief executive officer now owns 92,349 shares of the company’s stock, valued at $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Margaret Newman sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 owns 11,769 shares in the company, valued at $650,237.25. This represents a 56.03 % 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 90 days. 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.