Rhumbline Advisers Has $26.94 Million Stake in Core & Main, Inc. (NYSE:CNM)

Rhumbline Advisers trimmed its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529,128 shares of the company's stock after selling 33,116 shares during the period. Rhumbline Advisers owned about 0.27% of Core & Main worth $26,938,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Core & Main during the third quarter valued at $26,000. 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 valued at $41,000 after buying an additional 271 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Core & Main during the third quarter valued at $49,000. UMB Bank n.a. raised its position in 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 period. Finally, Blue Trust Inc. raised 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 valued at $65,000 after buying an additional 830 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In related news, CEO Stephen O. Leclair sold 200,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the completion of the sale, the chief executive officer now directly owns 92,349 shares of the company's stock, valued at $5,068,113.12. This trade represents a 68.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares of the company's stock, valued at $387,106.83. This represents a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 452,426 shares of company stock valued at $24,285,825. Corporate insiders own 3.49% of the company's stock.

Analysts Set New Price Targets

CNM has been the topic of several recent analyst reports. Citigroup upped their price target on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Loop Capital upped their target price on Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Barclays upped their target price on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Truist Financial upped their target price on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Core & Main presently has an average rating of "Moderate Buy" and a consensus target price of $57.60.

Core & Main Stock Down 2.1 %

Shares of CNM traded down $1.11 during trading hours on Friday, hitting $51.31. 1,123,413 shares of the company were exchanged, compared to its average volume of 1,461,014. The firm's 50 day moving average is $53.46 and its 200-day moving average is $48.68. 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, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The company has a market cap of $10.19 billion, a PE ratio of 24.07, a PEG ratio of 2.66 and a beta of 1.03.

Core & Main (NYSE:CNM - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the company earned $0.65 EPS. The company's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts forecast 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.