Core & Main, Inc. (NYSE:CNM) Stock Holdings Reduced by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its position in Core & Main, Inc. (NYSE:CNM) by 39.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,940 shares of the company’s stock after selling 5,707 shares during the quarter. Ritholtz Wealth Management’s holdings in Core & Main were worth $432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in Core & Main by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,666,765 shares of the company’s stock valued at $84,855,000 after purchasing an additional 122,240 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after acquiring an additional 1,416,907 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Core & Main by 4,757.9% during the 4th quarter. Federated Hermes Inc. now owns 1,138,346 shares of the company’s stock valued at $57,953,000 after acquiring an additional 1,114,913 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Core & Main by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock valued at $927,580,000 after acquiring an additional 221,970 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Core & Main by 13.1% during the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company’s stock valued at $3,331,000 after acquiring an additional 7,565 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $56.08 on Friday. The business has a 50 day moving average price of $53.60 and a 200 day moving average price of $52.23. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $60.38. The company has a market cap of $11.05 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.66 and a beta of 1.02. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 900 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.03, for a total value of $54,027.00. Following the completion of the sale, the general counsel now owns 9,691 shares in the company, valued at approximately $581,750.73. This trade represents a 8.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura K. Schneider sold 45,695 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total value of $2,570,343.75. Following the completion of the sale, the insider now owns 12,873 shares of the company’s stock, valued at $724,106.25. This represents a 78.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,666 shares of company stock worth $8,770,352. 3.53% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Robert W. Baird lowered their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Citigroup increased their price objective on Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, June 10th. Royal Bank Of Canada increased their price objective on Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, June 10th. Loop Capital increased their price objective on Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. increased their price objective on Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.55.

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.