B. Riley Wealth Advisors Inc. Acquires Shares of 17,526 Core & Main, Inc. (NYSE:CNM)

B. Riley Wealth Advisors Inc. acquired a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,526 shares of the company's stock, valued at approximately $774,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. PointState Capital LP bought a new position in shares of Core & Main during the 3rd quarter worth about $100,013,000. FMR LLC grew its position in Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company's stock worth $386,151,000 after buying an additional 1,903,280 shares in the last quarter. Impax Asset Management Group plc increased its stake in Core & Main by 373.0% during the third quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock valued at $89,416,000 after acquiring an additional 1,588,117 shares during the period. Spruce House Investment Management LLC raised its holdings in Core & Main by 400.0% in the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company's stock valued at $66,600,000 after acquiring an additional 1,200,000 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Core & Main by 37.1% in the 2nd quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock worth $205,974,000 after acquiring an additional 1,137,817 shares during the period. Institutional investors own 94.19% of the company's stock.

Core & Main Price Performance

Shares of NYSE:CNM traded down $1.76 during trading on Wednesday, reaching $50.23. The stock had a trading volume of 2,114,869 shares, compared to its average volume of 2,579,954. The stock has a market capitalization of $9.98 billion, a PE ratio of 23.58, a P/E/G ratio of 2.95 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The business's 50-day moving average price is $47.07 and its 200 day moving average price is $47.67.

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

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms have recently issued reports on CNM. Barclays boosted their price objective on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. Loop Capital lifted their target price on shares of Core & Main from $52.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Truist Financial increased their price target on shares of Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $58.10.

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.