Core & Main, Inc. (NYSE:CNM) Position Raised by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 8,795.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 197,395 shares of the company's stock after acquiring an additional 195,176 shares during the period. GAMMA Investing LLC owned 0.10% of Core & Main worth $9,536,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings 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 purchasing an additional 1,089 shares in the last quarter. Quadrant Capital Group LLC lifted 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 purchasing an additional 278 shares in the last quarter. Blue Trust Inc. lifted 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 purchasing an additional 830 shares in the last quarter. Ancora Advisors LLC purchased a new position in Core & Main in the 4th quarter valued at about $75,000. Finally, Venturi Wealth Management LLC purchased a new position in Core & Main in the 4th quarter valued at about $89,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Core & Main

In related news, 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 transaction, the insider now directly owns 12,873 shares in the company, valued at $724,106.25. This trade represents a 78.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 900 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $60.03, for a total value of $54,027.00. Following the transaction, the general counsel now owns 9,691 shares in the company, valued at $581,750.73. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,666 shares of company stock valued at $8,770,352. 3.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CNM shares. JPMorgan Chase & Co. upped their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a "buy" rating and a $60.00 target price on the stock. Robert W. Baird reduced their target price on shares of 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 increased their price objective on shares of Core & Main from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, Citigroup reiterated a "neutral" rating on shares of Core & Main in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Core & Main has an average rating of "Moderate Buy" and an average price target of $59.00.

Core & Main Trading Down 1.1%

NYSE CNM traded down $0.64 during mid-day trading on Wednesday, hitting $57.46. The company's stock had a trading volume of 2,591,385 shares, compared to its average volume of 2,298,832. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $60.38. The stock's fifty day simple moving average is $52.49 and its two-hundred day simple moving average is $51.88. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm has a market capitalization of $11.37 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $0.49 earnings per share. Core & Main's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current 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.