Core & Main, Inc. (NYSE:CNM) Stake Reduced by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 9.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,548 shares of the company's stock after selling 10,370 shares during the period. Granite Investment Partners LLC's holdings in Core & Main were worth $5,017,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC raised its position in Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after acquiring an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main during the 3rd quarter worth approximately $49,000. UMB Bank n.a. lifted its stake in Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock valued at $49,000 after buying an additional 684 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Core & Main by 30.1% during 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 last quarter. Finally, Blue Trust Inc. increased its position in Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after buying an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insider Activity at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the transaction, the president now directly owns 16,010 shares in the company, valued at $872,224.80. This represents a 60.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total transaction of $2,118,292.24. Following the completion of the sale, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at $207,977.60. The trade was a 91.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,831 shares of company stock valued at $4,504,152. Insiders own 3.49% of the company's stock.

Wall Street Analysts Forecast Growth

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

Core & Main Stock Up 1.9 %

Shares of NYSE:CNM traded up $0.95 during midday trading on Friday, hitting $49.59. 1,992,222 shares of the company's stock traded hands, compared to its average volume of 2,300,232. The firm's fifty day moving average price is $49.23 and its two-hundred day moving average price is $49.39. The company has a market cap of $9.81 billion, a PE ratio of 23.28, a P/E/G 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. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14.

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

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.