Sei Investments Co. Lowers Stake in Core & Main, Inc. (NYSE:CNM)

Sei Investments Co. cut its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,361 shares of the company's stock after selling 23,865 shares during the quarter. Sei Investments Co.'s holdings in Core & Main were worth $4,753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC boosted its position in shares of Core & Main by 51.3% in the fourth 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. UMB Bank n.a. lifted its stake in shares of Core & Main by 246.0% during 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. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main during the 3rd quarter valued at $49,000. Blue Trust Inc. boosted its holdings in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after buying an additional 830 shares during the period. Finally, R Squared Ltd purchased a new stake in Core & Main in the 4th quarter worth $78,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Core & Main

In related news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the transaction, the executive vice president now directly owns 16,452 shares of the company's stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO John Weldon Stephens sold 41,963 shares of the company's 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 transaction, the chief accounting officer now owns 4,120 shares in the company, valued at $207,977.60. The trade was a 91.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 226,257 shares of company stock worth $11,501,977. 3.49% of the stock is currently owned by company insiders.

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Core & Main Price Performance

Shares of NYSE:CNM traded down $0.79 on Monday, reaching $45.35. The company's stock had a trading volume of 2,923,524 shares, compared to its average volume of 2,285,704. The company has a 50-day simple moving average of $50.84 and a 200 day simple moving average of $49.19. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The company has a market cap of $8.97 billion, a P/E ratio of 21.29, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15.

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on CNM. Citigroup upped their price objective on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Robert W. Baird dropped their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective on the stock. Royal Bank of Canada dropped their target price on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company raised their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. One equities 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 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 Company 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.