Ritholtz Wealth Management Sells 5,707 Shares of Core & Main, Inc. (NYSE:CNM)

Ritholtz Wealth Management decreased its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 39.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,940 shares of the company's stock after selling 5,707 shares during the period. Ritholtz Wealth Management's holdings in Core & Main were worth $432,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Asset Management One Co. Ltd. raised its position in Core & Main by 13.1% in the 4th quarter. Asset Management One Co. Ltd. now owns 65,284 shares of the company's stock worth $3,331,000 after buying an additional 7,565 shares during the last quarter. Blue Trust Inc. raised its position in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after buying an additional 830 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Core & Main in the 4th quarter worth about $201,000. CIBC Asset Management Inc raised its position in Core & Main by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock worth $299,000 after buying an additional 287 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in Core & Main in the 4th quarter worth about $89,000. Institutional investors own 94.19% of the company's stock.

Analysts Set New Price Targets

CNM has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Robert W. Baird reduced their price target on shares of Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company upped their price target on shares of Core & Main from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, June 10th. Citigroup upped their price target 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. Finally, Royal Bank Of Canada upped their price target on shares of Core & Main from $60.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Core & Main has a consensus rating of "Moderate Buy" and an average price target of $59.55.

Insiders Place Their Bets

In other news, General Counsel Mark G. Whittenburg sold 49,100 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $60.03, for a total transaction of $2,947,473.00. Following the completion of the transaction, the general counsel now directly owns 9,691 shares in the company, valued at approximately $581,750.73. This represents a 83.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO John Weldon Stephens sold 10,214 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the transaction, the chief accounting officer now owns 4,120 shares of the company's stock, valued at $218,442.40. This represents a 71.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 157,666 shares of company stock worth $8,770,352 in the last three months. 3.53% of the stock is owned by company insiders.

Core & Main Stock Performance

Shares of NYSE:CNM traded up $1.24 during mid-day trading on Monday, reaching $58.30. 1,439,990 shares of the company traded hands, compared to its average volume of 2,285,793. The company's 50 day moving average price is $53.95 and its 200-day moving average price is $52.23. The firm has a market cap of $11.49 billion, a PE ratio of 27.12, a PEG ratio of 1.68 and a beta of 1.02. 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 $60.38.

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

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.