B. Riley Wealth Advisors Inc. Makes New $774,000 Investment in Core & Main, Inc. (NYSE:CNM)

B. Riley Wealth Advisors Inc. acquired a new position in Core & Main, Inc. (NYSE:CNM - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,526 shares of the company's stock, valued at approximately $774,000.

A number of other large investors have also recently bought and sold shares of the business. Retirement Systems of Alabama boosted its position in shares of Core & Main by 10.1% in the third quarter. Retirement Systems of Alabama now owns 254,759 shares of the company's stock valued at $11,311,000 after acquiring an additional 23,277 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Core & Main during the 3rd quarter valued at $49,000. Geode Capital Management LLC boosted its holdings in Core & Main by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,261,964 shares of the company's stock valued at $144,869,000 after purchasing an additional 412,520 shares during the period. Vestcor Inc boosted its holdings in Core & Main by 233.9% in the 3rd quarter. Vestcor Inc now owns 16,026 shares of the company's stock valued at $712,000 after purchasing an additional 11,227 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Core & Main by 10.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 125,473 shares of the company's stock worth $5,571,000 after purchasing an additional 11,427 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CNM shares. JPMorgan Chase & Co. reduced their target price on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, September 3rd. The Goldman Sachs Group raised their price objective on Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a research report on Thursday, December 5th. Truist Financial lifted their price objective on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th. Robert W. Baird upped their target price on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $58.10.

Core & Main Stock Performance

NYSE:CNM opened at $51.99 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock has a 50 day simple moving average of $46.93 and a 200 day simple moving average of $47.65. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The stock has a market cap of $10.33 billion, a P/E ratio of 24.41, a PEG ratio of 2.95 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $2.04 billion during the quarter, compared to analysts' expectations of $1.99 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. Core & Main's quarterly revenue was up 11.5% on a year-over-year basis. Research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling

In other Core & Main news, Director Margaret Newman sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $55.25, for a total transaction of $828,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares in the company, valued at $650,237.25. The trade was a 56.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Bradford A. Cowles sold 50,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the transaction, the president now directly owns 18,423 shares of the company's stock, valued at $1,014,554.61. This trade represents a 73.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,000 shares of company stock valued at $15,926,000 over the last 90 days. 3.49% of the stock is owned by corporate insiders.

About Core & Main

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.