Universal Beteiligungs und Servicegesellschaft mbH Makes New $1.12 Million Investment in Core & Main, Inc. (NYSE:CNM)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 23,163 shares of Core & Main, Inc. (NYSE:CNM) for approximately $1,119,000 in the first quarter.
• Analysts have raised target prices for Core & Main shares, with price targets increasing between $56.00 and $70.00, indicating a generally positive outlook.
• Core & Main's CFO and CEO recently sold significant shares of the company, collectively valuing over $6.4 million, which reduced their ownership stakes considerably.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 23,163 shares of the company's stock, valued at approximately $1,119,000.

Other large investors also recently bought and sold shares of the company. 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 valued at $41,000 after acquiring an additional 213 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Core & Main by 3.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company's stock valued at $343,000 after purchasing an additional 229 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Core & Main by 2.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 10,902 shares of the company's stock valued at $527,000 after purchasing an additional 272 shares during the period. Quadrant Capital Group LLC raised its position in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company's stock worth $61,000 after acquiring an additional 278 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Core & Main by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 22,285 shares of the company's stock worth $1,076,000 after acquiring an additional 330 shares during the period. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Stock Performance

Shares of CNM stock traded down $0.42 on Wednesday, hitting $63.62. 435,363 shares of the stock traded hands, compared to its average volume of 1,977,725. 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 company has a market capitalization of $12.54 billion, a PE ratio of 29.59, a PEG ratio of 1.88 and a beta of 1.04. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $65.97. The company's fifty day moving average is $60.34 and its 200 day moving average is $54.49.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $0.49 EPS. The business's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total value of $322,550.00. Following the completion of the sale, the chief financial officer directly owned 8,555 shares of the company's stock, valued at $551,883.05. This represents a 36.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen O. Leclair sold 44,972 shares of Core & Main stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $61.91, for a total value of $2,784,216.52. Following the sale, the insider owned 70,736 shares of the company's stock, valued at approximately $4,379,265.76. This represents a 38.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 428,445 shares of company stock worth $26,045,755. Corporate insiders own 3.53% of the company's stock.

Analyst Ratings Changes

CNM has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their price objective 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. JPMorgan Chase & Co. increased their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Loop Capital reissued a "hold" rating and issued a $68.00 price objective on shares of Core & Main in a research note on Monday, July 28th. Wells Fargo & Company raised their price objective on shares of Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Citigroup raised their price objective on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Core & Main currently has an average rating of "Hold" and an average 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.