Southeast Asset Advisors LLC Sells 22,174 Shares of Core & Main, Inc. (NYSE:CNM)

Southeast Asset Advisors LLC decreased its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 20.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 87,457 shares of the company's stock after selling 22,174 shares during the period. Southeast Asset Advisors LLC's holdings in Core & Main were worth $4,452,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNM. Avior Wealth Management LLC lifted 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Core & Main during the 3rd quarter valued at $49,000. UMB Bank n.a. grew its holdings 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 acquiring an additional 684 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after acquiring an additional 278 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings 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 worth $65,000 after acquiring an additional 830 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO John Weldon Stephens sold 41,963 shares of Core & Main stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $50.48, for a total value of $2,118,292.24. Following the completion of the sale, the chief accounting officer now directly owns 4,120 shares in the company, valued at $207,977.60. This trade represents a 91.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of the firm's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $54.07, for a total transaction of $675,875.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at $865,660.70. This trade represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 103,305 shares of company stock worth $5,289,169. 3.49% of the stock is owned by corporate insiders.

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Analyst Ratings Changes

A number of equities analysts recently commented on CNM shares. Royal Bank of Canada dropped their price objective on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Robert W. Baird dropped their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company lifted their price objective 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. 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 on the stock. Finally, Citigroup boosted their price target on Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. One research 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

Core & Main Price Performance

Core & Main stock traded up $0.51 during mid-day trading on Friday, hitting $48.69. 2,337,560 shares of the company were exchanged, compared to its average volume of 2,295,220. The company has a market capitalization of $9.63 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The business has a fifty day moving average of $49.77 and a 200 day moving average of $49.26. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results 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 return on equity of 24.71% and a net margin of 5.71%. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter last year, the business earned $0.34 EPS. The company's revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.