HighTower Advisors LLC Sells 16,592 Shares of Core & Main, Inc. (NYSE:CNM)

HighTower Advisors LLC decreased its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 60.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,727 shares of the company's stock after selling 16,592 shares during the period. HighTower Advisors LLC's holdings in Core & Main were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Intech Investment Management LLC bought a new position in shares of Core & Main in the third quarter worth about $541,000. Cerity Partners LLC grew its holdings in Core & Main by 53.9% during the 3rd quarter. Cerity Partners LLC now owns 31,728 shares of the company's stock valued at $1,409,000 after buying an additional 11,118 shares in the last quarter. FMR LLC raised its position in shares of Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company's stock valued at $386,151,000 after buying an additional 1,903,280 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Core & Main by 11.0% in the third quarter. MetLife Investment Management LLC now owns 105,427 shares of the company's stock worth $4,681,000 after buying an additional 10,413 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Core & Main by 11.6% during the third quarter. Captrust Financial Advisors now owns 29,444 shares of the company's stock valued at $1,307,000 after acquiring an additional 3,066 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

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Core & Main Trading Up 3.1 %

Shares of NYSE:CNM traded up $1.54 during trading hours on Wednesday, hitting $50.92. 2,337,976 shares of the company's stock traded hands, compared to its average volume of 2,279,560. The firm has a market capitalization of $10.12 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The business has a fifty day moving average price of $51.46 and a 200-day moving average price of $49.08. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. 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 (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). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. Core & Main's revenue was up 17.9% compared to the same quarter last year. Equities analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Transactions at Core & Main

In related news, EVP John R. Schaller sold 21,868 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Bradford A. Cowles sold 25,000 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the transaction, the president now owns 16,010 shares in the company, valued at $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,294 shares of company stock worth $9,383,685. Insiders own 3.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CNM shares. Royal Bank of Canada cut their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Robert W. Baird decreased their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group raised their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a report on Thursday, December 5th. Citigroup upped their price target 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. Finally, Loop Capital lifted their price objective on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

About Core & Main

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.