Summit Investment Advisors Inc. Has $1.96 Million Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Summit Investment Advisors Inc. decreased its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 37.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,586 shares of the company's stock after selling 23,093 shares during the period. Summit Investment Advisors Inc.'s holdings in Core & Main were worth $1,964,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CNM. Avior Wealth Management LLC grew its position in shares of 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 acquiring an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Core & Main during the third quarter worth $49,000. UMB Bank n.a. boosted its holdings in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after purchasing an additional 684 shares during the period. Quadrant Capital Group LLC increased its stake in 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 purchasing an additional 278 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in 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 purchasing an additional 830 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares of the company's stock, valued at approximately $872,224.80. This trade represents a 60.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO John Weldon Stephens sold 41,963 shares of the business's stock in a transaction on 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 represents a 91.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 88,831 shares of company stock worth $4,504,152 over the last quarter. 3.49% of the stock is currently owned by company insiders.

Core & Main Stock Performance

Shares of CNM traded up $0.95 during trading hours on Friday, reaching $49.59. 1,992,222 shares of the company's stock traded hands, compared to its average volume of 2,303,455. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The business's fifty day simple moving average is $49.23 and its two-hundred day simple moving average is $49.47. 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 firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 2.61 and a beta of 1.05.

Core & Main (NYSE:CNM - Get Free Report) last released its 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). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm's quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. Analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CNM. Royal Bank of Canada decreased their price target on shares of Core & Main from $62.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Citigroup lifted their target price on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Wells Fargo & Company increased their price target on Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. 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. Finally, Robert W. Baird cut their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 26th. One 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.