Kennedy Capital Management LLC Has $9.92 Million Position in Core & Main, Inc. (NYSE:CNM)

Kennedy Capital Management LLC lowered its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 22.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 194,787 shares of the company's stock after selling 56,043 shares during the period. Kennedy Capital Management LLC owned approximately 0.10% of Core & Main worth $9,917,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after purchasing an additional 271 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the 3rd quarter valued at $49,000. UMB Bank n.a. grew its stake in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock valued at $49,000 after buying an additional 684 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after buying an additional 278 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after buying an additional 830 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insider Buying and Selling at Core & Main

In related news, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at $207,977.60. This trade represents a 91.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Bradford A. Cowles sold 25,000 shares of the business's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares of the company's stock, valued at approximately $872,224.80. This represents a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,831 shares of company stock valued at $4,504,152 in the last quarter. Company insiders own 3.49% of the company's stock.

Remove Ads

Core & Main Stock Performance

Core & Main stock traded down $0.47 during mid-day trading on Wednesday, reaching $49.02. The company's stock had a trading volume of 767,371 shares, compared to its average volume of 2,288,723. 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 business has a 50 day moving average price of $49.55 and a 200-day moving average price of $49.31. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The firm's quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. Sell-side analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price for the company. Robert W. Baird cut their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company boosted their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Royal Bank of Canada cut their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Finally, Citigroup boosted their price objective on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Core & Main presently has an average rating of "Moderate Buy" and an average target price of $57.55.

Core & Main 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.