Core & Main, Inc. $CNM Stock Holdings Lifted by Goodnow Investment Group LLC

Goodnow Investment Group LLC raised its position in shares of Core & Main, Inc. (NYSE:CNM) by 18.2% during the 4th quarter, Holdings Channel reports. The firm owned 760,839 shares of the company’s stock after buying an additional 117,099 shares during the quarter. Core & Main comprises 3.7% of Goodnow Investment Group LLC’s portfolio, making the stock its 10th largest holding. Goodnow Investment Group LLC’s holdings in Core & Main were worth $39,541,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Deutsche Bank AG grew its stake in Core & Main by 1.1% during the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock valued at $928,000 after purchasing an additional 190 shares during the last quarter. Modern Wealth Management LLC grew its stake in Core & Main by 5.8% during the 3rd quarter. Modern Wealth Management LLC now owns 3,970 shares of the company’s stock valued at $214,000 after purchasing an additional 218 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Core & Main by 13.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock valued at $109,000 after buying an additional 237 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares during the period. Finally, Steph & Co. lifted its holdings in shares of Core & Main by 36.6% in the 4th quarter. Steph & Co. now owns 1,037 shares of the company’s stock valued at $54,000 after buying an additional 278 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNM. The Goldman Sachs Group reissued a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a report on Thursday. Barclays decreased their price objective on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Citigroup decreased their price objective on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.73.

Insider Buying and Selling

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.54, for a total value of $262,700.00. Following the completion of the sale, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. The trade was a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope acquired 1,972 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average price of $50.70 per share, with a total value of $99,980.40. Following the completion of the transaction, the director directly owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. This represents a 39.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.51% of the stock is owned by insiders.

Core & Main Stock Performance

Shares of CNM stock opened at $47.57 on Tuesday. The stock has a market cap of $9.26 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. The business has a 50-day simple moving average of $49.72 and a 200-day simple moving average of $52.13. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. Core & Main, Inc. has a 52-week low of $43.96 and a 52-week high of $67.18.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Wednesday, June 10th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.19. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Core & Main had a return on equity of 26.17% and a net margin of 5.87%.The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, equities analysts expect that Core & Main, Inc. will post 3.06 EPS for the current year.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.