Core & Main, Inc. (NYSE:CNM) Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC decreased its holdings 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 disclosure with the SEC. The fund owned 4,522 shares of the company's stock after selling 5,541 shares during the quarter. ELCO Management Co. LLC's holdings in Core & Main were worth $218,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Core & Main by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock worth $343,000 after buying an additional 229 shares in the last quarter. Truist Financial Corp boosted its position in shares of Core & Main by 21.2% during the first quarter. Truist Financial Corp now owns 705,339 shares of the company's stock worth $34,075,000 after purchasing an additional 123,494 shares in the last quarter. Perpetual Ltd increased its stake 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 purchasing an additional 24,610 shares during the last quarter. New York State Teachers Retirement System lifted 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 period. Finally, Artemis Investment Management LLP increased its position in Core & Main by 109.6% in the 1st quarter. Artemis Investment Management LLP now owns 1,791,935 shares of the company's stock valued at $86,568,000 after acquiring an additional 936,863 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Price Performance

NYSE CNM traded down $0.71 during mid-day trading on Tuesday, hitting $60.49. The stock had a trading volume of 448,903 shares, compared to its average volume of 2,286,407. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. The company has a 50 day simple moving average of $56.91 and a 200 day simple moving average of $53.22. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 1.82 and a beta of 1.04. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $63.25.

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 for the quarter, meeting the consensus estimate of $0.52. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. Core & Main's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. Equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Mark G. Whittenburg sold 49,100 shares of Core & Main 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 directly owned 9,691 shares in the company, valued at approximately $581,750.73. The trade was a 83.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laura K. Schneider sold 45,695 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total value of $2,570,343.75. Following the transaction, the insider directly owned 12,873 shares of the company's stock, valued at $724,106.25. This trade represents a 78.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 265,703 shares of company stock valued at $15,931,870 in the last ninety days. 3.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on CNM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a research note on Tuesday, April 1st. They set a "buy" rating and a $60.00 price objective for the company. Robert W. Baird reduced their target price 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. Loop Capital boosted their price target on shares of Core & Main from $63.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Citigroup increased their target price on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company upped their target price on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. One equities research 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.