Core & Main, Inc. (NYSE:CNM) Shares Sold by Tidal Investments LLC

Tidal Investments LLC trimmed its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 56.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,081 shares of the company's stock after selling 21,136 shares during the quarter. Tidal Investments LLC's holdings in Core & Main were worth $714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CNM. PointState Capital LP acquired a new position in shares of Core & Main during the third quarter valued at about $100,013,000. FMR LLC increased its stake in Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company's stock valued at $386,151,000 after purchasing an additional 1,903,280 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Core & Main by 373.0% in the third quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock worth $89,416,000 after buying an additional 1,588,117 shares during the last quarter. Spruce House Investment Management LLC lifted its stake in shares of Core & Main by 400.0% during the third quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company's stock worth $66,600,000 after buying an additional 1,200,000 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in shares of Core & Main by 37.1% during the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company's stock valued at $205,974,000 after buying an additional 1,137,817 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Performance

CNM stock traded up $0.41 during midday trading on Friday, hitting $50.54. 10,195,289 shares of the stock traded hands, compared to its average volume of 2,613,481. The stock's fifty day simple moving average is $47.32 and its 200-day simple moving average is $47.64. The firm has a market cap of $10.04 billion, a P/E ratio of 23.73, a PEG ratio of 2.95 and a beta of 1.04. 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 released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share 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 analysts' expectations of $1.99 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. Core & Main's quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CNM. Wells Fargo & Company raised their target price on Core & Main from $52.00 to $62.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Loop Capital upped their target price on Core & Main from $52.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. cut their price target on shares of Core & Main from $54.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, September 3rd. Truist Financial lifted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a research note on Wednesday, December 4th. Finally, Bank of America cut their price objective on shares of Core & Main from $38.00 to $34.00 and set an "underperform" rating on the stock in a research note on Thursday, September 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned 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 price target of $58.10.

Insider Buying and Selling

In related news, EVP Jeffrey D. Giles sold 25,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $54.71, for a total value of $1,367,750.00. Following the completion of the transaction, the executive vice president now directly owns 11,615 shares of the company's stock, valued at approximately $635,456.65. This represents a 68.28 % decrease in their position. The transaction 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 50,000 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the transaction, the president now owns 18,423 shares in the company, valued at $1,014,554.61. The trade was a 73.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,000 shares of company stock valued at $15,926,000. 3.49% of the stock is owned by corporate insiders.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.