New Age Alpha Advisors LLC Takes $1.23 Million Position in Core & Main, Inc. (NYSE:CNM)

New Age Alpha Advisors LLC purchased a new position in shares of Core & Main, Inc. (NYSE:CNM) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 24,109 shares of the company’s stock, valued at approximately $1,227,000.

A number of other hedge funds also recently modified their holdings of CNM. Intech Investment Management LLC purchased a new stake in Core & Main in the third quarter worth $541,000. Cerity Partners LLC grew its stake in shares of Core & Main by 53.9% during the 3rd quarter. Cerity Partners LLC now owns 31,728 shares of the company’s stock worth $1,409,000 after acquiring an additional 11,118 shares during the period. FMR LLC increased its holdings in Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares during the last quarter. MetLife Investment Management LLC increased its holdings in Core & Main by 11.0% in the 3rd quarter. MetLife Investment Management LLC now owns 105,427 shares of the company’s stock worth $4,681,000 after acquiring an additional 10,413 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Core & Main by 11.6% in the 3rd quarter. Captrust Financial Advisors now owns 29,444 shares of the company’s stock valued at $1,307,000 after acquiring an additional 3,066 shares during the period. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 3.0 %

Shares of Core & Main stock opened at $48.46 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a market cap of $9.63 billion, a P/E ratio of 22.75, a PEG ratio of 2.61 and a beta of 1.05. The company’s fifty day simple moving average is $51.87 and its two-hundred day simple moving average is $48.95.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.67 billion. The business’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. Research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup raised their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Truist Financial lifted their price target 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 increased their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Finally, Loop Capital increased their price target on shares of 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 assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.30.

Insider Buying and Selling at Core & Main

In related news, EVP John R. Schaller sold 60,452 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now directly owns 17,898 shares in the company, valued at $905,101.86. This trade represents a 77.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares in the company, valued at $387,106.83. The trade was a 86.70 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,294 shares of company stock valued at $9,383,685. 3.49% of the stock is currently owned by company insiders.

Core & Main 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.