Summit Trail Advisors LLC Purchases Shares of 8,056 Core & Main, Inc. (NYSE:CNM)

Summit Trail Advisors LLC bought a new position in Core & Main, Inc. (NYSE:CNM) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 8,056 shares of the company’s stock, valued at approximately $326,000.

A number of other institutional investors have also bought and sold shares of CNM. Renaissance Capital LLC raised its stake in Core & Main by 59.0% during the 4th quarter. Renaissance Capital LLC now owns 85,574 shares of the company’s stock valued at $3,458,000 after purchasing an additional 31,740 shares during the period. State of Michigan Retirement System bought a new stake in shares of Core & Main during the fourth quarter valued at approximately $1,325,000. Exchange Traded Concepts LLC boosted its position in shares of Core & Main by 328.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 78,854 shares of the company’s stock worth $3,186,000 after acquiring an additional 60,435 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in Core & Main by 4.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,734,897 shares of the company’s stock valued at $70,107,000 after acquiring an additional 73,790 shares in the last quarter. Finally, New York State Teachers Retirement System bought a new stake in Core & Main in the 4th quarter valued at $1,805,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CNM shares. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $64.00 in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Loop Capital raised their target price on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Barclays upped their price target on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group boosted their target price on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus price target of $50.08.

Insider Activity

In other Core & Main news, CEO Stephen O. Leclair sold 150,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.14, for a total value of $6,621,000.00. Following the completion of the sale, the chief executive officer now directly owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Core & Main news, Director Orvin T. Kimbrough sold 5,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.17, for a total transaction of $220,850.00. Following the transaction, the director now directly owns 9,320 shares in the company, valued at approximately $411,664.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen O. Leclair sold 150,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the transaction, the chief executive officer now directly owns 73,692 shares in the company, valued at approximately $3,252,764.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 520,500 shares of company stock valued at $25,511,067. 3.49% of the stock is currently owned by company insiders.

Core & Main Stock Performance

Shares of NYSE:CNM opened at $59.11 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 1.81 and a beta of 1.14. Core & Main, Inc. has a 12 month low of $26.08 and a 12 month high of $60.83. The firm’s 50-day moving average is $54.84 and its 200 day moving average is $44.12.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Research analysts predict that Core & Main, Inc. will post 2.59 EPS for the current year.

Core & Main Company 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.