Cerity Partners LLC Has $527,000 Stake in Core & Main, Inc. (NYSE:CNM)

Key Points

• Cerity Partners LLC reduced its position in Core & Main by 53.4%, owning 10,917 shares after selling 12,532 shares, with their holdings valued at $527,000.
• Insider transactions include CEO Mark R. Witkowski selling 100,000 shares for approximately $6.1 million, resulting in a 73.61% reduction in ownership.
• Equities analysts have a consensus rating of "Moderate Buy" for Core & Main, with target prices ranging from $56.00 to $70.00.

Cerity Partners LLC decreased its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 53.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,917 shares of the company's stock after selling 12,532 shares during the quarter. Cerity Partners LLC's holdings in Core & Main were worth $527,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CNM. Parallel Advisors LLC raised its holdings in Core & Main by 447.1% in 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 during the last quarter. Rossby Financial LCC purchased a new stake in Core & Main during the 1st quarter worth $37,000. Versant Capital Management Inc boosted its position 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 purchasing an additional 1,089 shares during the period. Quadrant Capital Group LLC boosted its position 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 purchasing an additional 278 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in Core & Main during the 4th quarter worth $75,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Stock Performance

NYSE:CNM traded down $0.35 during midday trading on Tuesday, reaching $65.26. The stock had a trading volume of 90,244 shares, compared to its average volume of 1,980,304. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $65.97. The firm's fifty day simple moving average is $59.07 and its 200-day simple moving average is $54.08. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.96 and a quick ratio of 1.10. The stock has a market capitalization of $12.86 billion, a P/E ratio of 30.35, a PEG ratio of 1.94 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CNM shares. Citigroup upped their price objective on shares of Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. increased their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. Loop Capital restated a "hold" rating and issued a $68.00 price target on shares of Core & Main in a research note on Monday. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Core & Main presently has a consensus rating of "Hold" and a consensus price target of $60.00.

Insiders Place Their Bets

In related 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 value of $6,126,000.00. Following the transaction, the chief executive officer directly owned 35,847 shares in the company, valued at approximately $2,195,987.22. This trade represents a 73.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Laura K. Schneider sold 45,695 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the sale, the insider owned 12,873 shares in the company, valued at $724,106.25. This represents a 78.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 428,445 shares of company stock worth $26,045,755 in the last ninety days. 3.53% of the stock is owned by insiders.

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.