HB Wealth Management LLC Purchases Shares of 4,693 Core & Main, Inc. (NYSE:CNM)

HB Wealth Management LLC acquired a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,693 shares of the company's stock, valued at approximately $227,000.

A number of other large investors have also added to or reduced their stakes in CNM. CWM LLC boosted its holdings in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after buying an additional 213 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Core & Main by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock valued at $343,000 after purchasing an additional 229 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in Core & Main by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock worth $527,000 after purchasing an additional 272 shares during the period. Quadrant Capital Group LLC grew its holdings in Core & Main by 30.1% in the 4th 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, State of Alaska Department of Revenue raised its holdings in shares of Core & Main by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company's stock valued at $1,076,000 after acquiring an additional 330 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

Insider Buying and Selling at Core & Main

In other Core & Main news, CEO Mark R. Witkowski sold 100,000 shares of the firm's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $61.26, for a total transaction of $6,126,000.00. Following the completion of the transaction, the chief executive officer directly owned 35,847 shares of the company's stock, valued at $2,195,987.22. This trade represents a 73.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen O. Leclair sold 44,972 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $61.91, for a total value of $2,784,216.52. Following the completion of the sale, the insider directly owned 70,736 shares in the company, valued at $4,379,265.76. This represents a 38.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 428,445 shares of company stock worth $26,045,755. 3.53% of the stock is currently owned by insiders.

Core & Main Price Performance

Shares of NYSE:CNM traded up $0.50 on Thursday, reaching $64.04. 901,257 shares of the company were exchanged, compared to its average volume of 1,973,643. The company has a 50-day moving average of $60.52 and a 200-day moving average of $54.55. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 1.89 and a beta of 1.04. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $65.97.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The business's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. Equities analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on CNM shares. Citigroup boosted their price objective on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Wells Fargo & Company boosted their target price on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada boosted their target price on Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. increased their target price on Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Finally, Loop Capital restated a "hold" rating and set a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $60.00.

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.