Monument Capital Management Purchases New Stake in Core & Main, Inc. (NYSE:CNM)

Monument Capital Management bought a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 57,946 shares of the company's stock, valued at approximately $2,799,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its stake in Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock valued at $31,000 after acquiring an additional 532 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Core & Main by 1,491.8% during the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after purchasing an additional 1,089 shares during the period. Quadrant Capital Group LLC raised 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 purchasing an additional 278 shares in the last quarter. Ancora Advisors LLC bought a new stake in shares of Core & Main during the fourth quarter valued at about $75,000. Finally, US Bancorp DE lifted its holdings in Core & Main by 12.3% in the fourth quarter. US Bancorp DE now owns 1,795 shares of the company's stock worth $91,000 after purchasing an additional 197 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on CNM. Royal Bank Of Canada boosted their price target on shares of Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. Robert W. Baird dropped their target price on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Citigroup increased their target price on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Wells Fargo & Company lifted their price target on shares of Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. increased their price objective on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and a consensus target price of $59.55.

Core & Main Price Performance

Shares of NYSE:CNM traded up $0.49 during trading on Thursday, reaching $62.33. The stock had a trading volume of 1,039,715 shares, compared to its average volume of 2,278,860. The stock has a market capitalization of $12.29 billion, a PE ratio of 28.99, a P/E/G ratio of 1.81 and a beta of 1.04. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.45. The business's 50-day moving average price is $55.46 and its 200 day moving average price is $52.60.

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 firm had revenue of $1.91 billion during 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 for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, equities analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Insider Activity at Core & Main

In other Core & Main news, CAO John Weldon Stephens sold 10,214 shares of the firm's stock in a transaction dated 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 sale, the chief accounting officer owned 4,120 shares in the company, valued at approximately $218,442.40. This trade represents a 71.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John R. Schaller sold 9,794 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total transaction of $538,670.00. Following the transaction, the executive vice president owned 19,689 shares in the company, valued at $1,082,895. The trade was a 33.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,703 shares of company stock worth $6,652,060 in the last 90 days. Corporate insiders own 3.53% of the company's stock.

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.