Tower Research Capital LLC TRC Purchases 8,133 Shares of Core & Main, Inc. (NYSE:CNM)

Tower Research Capital LLC TRC lifted its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 124.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,652 shares of the company's stock after purchasing an additional 8,133 shares during the quarter. Tower Research Capital LLC TRC's holdings in Core & Main were worth $746,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CNM. Wilmington Savings Fund Society FSB bought a new position in Core & Main during the third quarter worth about $49,000. Retirement Systems of Alabama lifted its holdings in shares of Core & Main by 10.1% during the 3rd quarter. Retirement Systems of Alabama now owns 254,759 shares of the company's stock valued at $11,311,000 after purchasing an additional 23,277 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Core & Main in the 3rd quarter valued at approximately $774,000. Lord Abbett & CO. LLC increased its stake in Core & Main by 6.9% during the 3rd quarter. Lord Abbett & CO. LLC now owns 899,064 shares of the company's stock worth $39,919,000 after purchasing an additional 58,365 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Core & Main by 14.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,839,399 shares of the company's stock worth $126,069,000 after buying an additional 349,674 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Core & Main Stock Up 0.3 %

Core & Main stock opened at $52.55 on Friday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The company's 50-day moving average is $48.87 and its 200-day moving average is $49.70. The firm has a market capitalization of $10.40 billion, a PE ratio of 24.67, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share 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 business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the firm earned $0.34 EPS. Core & Main's quarterly revenue was up 17.9% compared to the same quarter last year. Sell-side analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Core & Main

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 16,452 shares in the company, valued at $770,282.64. This trade represents a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Bradford A. Cowles sold 25,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at $872,224.80. The trade was a 60.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,831 shares of company stock valued at $4,504,152 in the last quarter. 3.49% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CNM has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Citigroup lifted their price target on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a research report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Royal Bank of Canada dropped their target price on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 26th. Finally, Robert W. Baird reduced their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.55.

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.

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