Alps Advisors Inc. Invests $363,000 in Core & Main, Inc. (NYSE:CNM)

Alps Advisors Inc. purchased a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,510 shares of the company's stock, valued at approximately $363,000.

Several other hedge funds also recently made changes to their positions in CNM. Parallel Advisors LLC grew its position 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 purchasing an additional 532 shares during the last quarter. Rossby Financial LCC bought a new position in shares of Core & Main in the 1st quarter worth approximately $37,000. Versant Capital Management Inc raised its stake in Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after acquiring an additional 1,089 shares during the period. Quadrant Capital Group LLC raised its stake in Core & Main by 30.1% during 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 period. Finally, Ancora Advisors LLC bought a new stake in Core & Main during the 4th quarter worth approximately $75,000. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Core & Main news, EVP John R. Schaller sold 9,794 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $55.00, for a total value of $538,670.00. Following the sale, the executive vice president owned 19,689 shares of the company's stock, valued at approximately $1,082,895. This represents a 33.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robyn L. Bradbury sold 25,000 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $60.49, for a total value of $1,512,250.00. Following the completion of the sale, the chief financial officer directly owned 8,555 shares in the company, valued at $517,491.95. This trade represents a 74.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 265,703 shares of company stock valued at $15,931,870 in the last 90 days. Company insiders own 3.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CNM shares. JPMorgan Chase & Co. raised their target price on shares of Core & Main from $54.00 to $56.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Loop Capital increased their price objective on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Wells Fargo & Company increased their price objective on shares of Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Robert W. Baird cut their price objective on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Finally, Royal Bank Of Canada increased their price objective on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Core & Main Price Performance

CNM traded up $0.17 on Friday, hitting $62.02. 1,514,357 shares of the company's stock were exchanged, compared to its average volume of 2,287,762. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $63.25. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. The firm has a 50-day moving average price of $57.69 and a 200-day moving average price of $53.47. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 1.83 and a beta of 1.04.

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, hitting analysts' consensus estimates 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 company's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. As a group, equities analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.