Regency Capital Management Inc. DE Acquires New Shares in Core & Main, Inc. (NYSE:CNM)

Regency Capital Management Inc. DE acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 21,060 shares of the company's stock, valued at approximately $1,017,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CNM. Parallel Advisors LLC increased its stake in Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company's stock worth $31,000 after acquiring an additional 532 shares during the last quarter. Rossby Financial LCC purchased a new position in shares of Core & Main in the 1st quarter worth about $37,000. CWM LLC boosted its holdings in shares of Core & Main by 34.0% in the 1st quarter. CWM LLC now owns 839 shares of the company's stock worth $41,000 after purchasing an additional 213 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Core & Main by 1,491.8% in the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company's stock worth $56,000 after purchasing an additional 1,089 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Core & Main by 30.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after purchasing an additional 278 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Price Performance

Shares of CNM stock traded up $0.85 during trading hours on Monday, hitting $62.85. The stock had a trading volume of 103,385 shares, compared to its average volume of 2,279,438. Core & Main, Inc. has a one year low of $37.22 and a one year high of $63.25. 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 stock's 50-day moving average price is $57.69 and its two-hundred day moving average price is $53.50. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 29.26, a PEG ratio of 1.83 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CNM shares. 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 for the company. Citigroup increased their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. increased their target price on Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Robert W. Baird dropped their target price on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company increased their target price on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.00.

Insider Activity

In related news, insider Laura K. Schneider sold 45,695 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider owned 12,873 shares in the company, valued at approximately $724,106.25. The trade was a 78.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robyn L. Bradbury sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $60.49, for a total value of $1,512,250.00. Following the completion of the sale, the chief financial officer owned 8,555 shares of the company's stock, valued at $517,491.95. The trade was a 74.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 265,703 shares of company stock valued at $15,931,870. 3.53% of the stock is currently owned by corporate insiders.

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.

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