ELCO Management Co. LLC Sells 5,541 Shares of Core & Main, Inc. (NYSE:CNM)

ELCO Management Co. LLC lowered its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 55.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,522 shares of the company's stock after selling 5,541 shares during the period. ELCO Management Co. LLC's holdings in Core & Main were worth $218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Core & Main by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after purchasing an additional 229 shares in the last quarter. Truist Financial Corp increased its holdings in shares of Core & Main by 21.2% during the 1st quarter. Truist Financial Corp now owns 705,339 shares of the company's stock worth $34,075,000 after acquiring an additional 123,494 shares during the last quarter. Perpetual Ltd increased its holdings in shares of Core & Main by 12.4% during the 1st quarter. Perpetual Ltd now owns 223,671 shares of the company's stock worth $10,806,000 after acquiring an additional 24,610 shares during the last quarter. New York State Teachers Retirement System increased its holdings in shares of Core & Main by 53.7% during the 1st quarter. New York State Teachers Retirement System now owns 86,679 shares of the company's stock worth $4,187,000 after acquiring an additional 30,286 shares during the last quarter. Finally, Artemis Investment Management LLP increased its holdings in shares of Core & Main by 109.6% during the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock worth $86,568,000 after acquiring an additional 936,863 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Stock Performance

NYSE CNM traded up $0.40 on Wednesday, reaching $60.50. The stock had a trading volume of 1,678,532 shares, compared to its average volume of 2,288,827. 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 firm has a fifty day moving average of $57.28 and a two-hundred day moving average of $53.32. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $63.25. The company has a market cap of $11.93 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, meeting 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 revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. On average, equities research analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Insider Activity

In other news, insider Laura K. Schneider sold 45,695 shares of the company'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 directly owned 12,873 shares in the company, valued at approximately $724,106.25. This represents a 78.02% 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 on Wednesday, May 28th. The shares were 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. The trade was a 33.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,703 shares of company stock worth $15,931,870. 3.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on CNM shares. Royal Bank Of Canada boosted their target price on Core & Main from $60.00 to $67.00 and gave the stock an "outperform" rating in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on Core & Main in a report on Tuesday, April 1st. They set a "buy" rating and a $60.00 target price on the stock. Loop Capital boosted their target price on Core & Main from $63.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Robert W. Baird decreased their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Finally, Citigroup upped their price objective on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $60.00.

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.