Jacobs Levy Equity Management Inc. Decreases Position in Core & Main, Inc. (NYSE:CNM)

Jacobs Levy Equity Management Inc. lessened its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 11.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,368 shares of the company's stock after selling 21,704 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.09% of Core & Main worth $8,724,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Avior Wealth Management LLC increased its stake in Core & Main by 51.3% in the 4th 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. increased its stake in shares of 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. Quadrant Capital Group LLC increased its stake in shares of Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock valued at $61,000 after buying an additional 278 shares during the period. Blue Trust Inc. increased its stake 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 valued at $65,000 after buying an additional 830 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in Core & Main in the fourth quarter worth $75,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Analyst Upgrades and Downgrades

CNM has been the topic of several analyst reports. 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 report on Wednesday, March 26th. Wells Fargo & Company upped their price target on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft initiated coverage on Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 price target on the stock. Finally, Robert W. Baird cut 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Core & Main presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.55.

Core & Main Trading Up 3.1%

Shares of Core & Main stock traded up $1.61 during trading hours on Friday, hitting $54.14. The company's stock had a trading volume of 1,238,611 shares, compared to its average volume of 2,311,434. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $61.33. The firm has a fifty day moving average of $49.85 and a 200-day moving average of $50.43. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 2.61 and a beta of 1.04. 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 (NYSE:CNM - Get Free Report) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main's quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. Research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Activity

In other news, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company's stock, valued at $770,282.64. This trade represents a 57.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John Weldon Stephens sold 10,214 shares of the firm's stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the completion of the transaction, the chief accounting officer now directly owns 4,120 shares of the company's stock, valued at $218,442.40. The trade was a 71.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,045 shares of company stock worth $3,683,698. 3.49% of the stock is currently owned by insiders.

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.