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

Ritholtz Wealth Management cut its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 39.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,940 shares of the company's stock after selling 5,707 shares during the quarter. Ritholtz Wealth Management's holdings in Core & Main were worth $432,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Parallel Advisors LLC raised its position in shares of Core & Main by 447.1% in the first 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 period. Versant Capital Management Inc grew its stake in Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock valued at $56,000 after buying an additional 1,089 shares during the last quarter. Quadrant Capital Group LLC raised 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 valued at $61,000 after acquiring an additional 278 shares during the period. Blue Trust Inc. raised its holdings in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after acquiring an additional 830 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in Core & Main during the fourth quarter worth approximately $75,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP John R. Schaller sold 9,794 shares of the firm's stock in a transaction dated 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 now directly owns 19,689 shares of the company's stock, valued at $1,082,895. This trade represents a 33.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Mark G. Whittenburg sold 900 shares of Core & Main stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $60.03, for a total value of $54,027.00. Following the completion of the transaction, the general counsel now owns 9,691 shares in the company, valued at approximately $581,750.73. This represents a 8.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,666 shares of company stock worth $8,770,352. Corporate insiders own 3.53% of the company's stock.

Core & Main Price Performance

Shares of NYSE CNM traded up $0.91 during mid-day trading on Friday, reaching $57.06. The company had a trading volume of 5,889,405 shares, compared to its average volume of 2,304,528. The firm has a market cap of $11.25 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.66 and a beta of 1.02. The business's 50-day simple moving average is $53.77 and its 200 day simple moving average is $52.24. Core & Main, Inc. has a one year low of $37.22 and a one year high of $60.38. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96.

Core & Main (NYSE:CNM - Get Free Report) last announced 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. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. On average, research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on CNM shares. JPMorgan Chase & Co. upped their target price on 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 decreased their price objective on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company lifted their target price on Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft began 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. Finally, Royal Bank Of Canada raised 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. 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's stock. According to data from MarketBeat, Core & Main currently has an average rating of "Moderate Buy" and an average target price of $59.55.

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.