Summit Trail Advisors LLC Has $493,000 Position in Core & Main, Inc. (NYSE:CNM)

Summit Trail Advisors LLC lifted its position in shares of Core & Main, Inc. (NYSE:CNM) by 8.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,690 shares of the company’s stock after purchasing an additional 767 shares during the quarter. Summit Trail Advisors LLC’s holdings in Core & Main were worth $493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNM. Ashton Thomas Securities LLC bought a new stake in shares of Core & Main during 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 about $31,000. Avior Wealth Management LLC lifted its position in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after buying an additional 271 shares during the last quarter. UMB Bank n.a. lifted its holdings in Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Core & Main during the 3rd quarter worth about $49,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Trading Up 0.3 %

NYSE CNM opened at $54.85 on Wednesday. The stock has a market capitalization of $10.90 billion, a P/E ratio of 25.75, a P/E/G ratio of 2.75 and a beta of 1.03. The business has a 50 day simple moving average of $53.43 and a 200 day simple moving average of $48.54. 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, Inc. has a one year low of $37.22 and a one year high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 EPS. Research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on CNM. Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Truist Financial lifted their target price on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Barclays raised their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Loop Capital raised their price target 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. Finally, Citigroup upped their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. One 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 has an average rating of “Moderate Buy” and an average price target of $57.60.

Insiders Place Their Bets

In other Core & Main news, CEO Stephen O. Leclair sold 200,000 shares of the firm’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 value of $10,976,000.00. Following the completion of the sale, the chief executive officer now owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,426 shares of company stock worth $22,923,825. 3.49% of the stock is currently owned by company insiders.

Core & Main Company 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.