Tower Research Capital LLC TRC Has $746,000 Position in Core & Main, Inc. (NYSE:CNM)

Tower Research Capital LLC TRC boosted its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 124.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,652 shares of the company's stock after acquiring an additional 8,133 shares during the period. Tower Research Capital LLC TRC's holdings in Core & Main were worth $746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in Core & Main during the 3rd quarter valued at approximately $49,000. Retirement Systems of Alabama boosted its holdings in shares of Core & Main by 10.1% during the third quarter. Retirement Systems of Alabama now owns 254,759 shares of the company's stock valued at $11,311,000 after acquiring an additional 23,277 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of Core & Main during the third quarter worth about $774,000. Lord Abbett & CO. LLC increased its holdings in shares of Core & Main by 6.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 899,064 shares of the company's stock worth $39,919,000 after acquiring an additional 58,365 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Core & Main by 14.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,839,399 shares of the company's stock valued at $126,069,000 after purchasing an additional 349,674 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Core & Main

In other news, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the sale, the president now owns 16,010 shares in the company, valued at $872,224.80. This represents a 60.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO John Weldon Stephens sold 10,214 shares of Core & Main stock in a transaction on Monday, April 28th. The shares were sold at an average price of $53.02, for a total value of $541,546.28. Following the transaction, the chief accounting officer now owns 4,120 shares in the company, valued at $218,442.40. This represents a 71.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,045 shares of company stock worth $5,045,698 in the last quarter. 3.49% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CNM. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company lifted their target price on Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Robert W. Baird reduced their price target on Core & Main from $66.00 to $65.00 and set an "outperform" rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada lowered their price target on Core & Main from $62.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 26th. Finally, Citigroup upped their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. 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 company's stock. According to MarketBeat.com, Core & Main currently has an average rating of "Moderate Buy" and an average price target of $57.55.

Core & Main Price Performance

Shares of CNM traded up $0.41 during mid-day trading on Thursday, hitting $53.09. The company's stock had a trading volume of 552,612 shares, compared to its average volume of 2,293,976. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. 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 50-day moving average price of $48.91 and a 200 day moving average price of $49.84.

Core & Main (NYSE:CNM - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. Core & Main's revenue was up 17.9% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. On average, research analysts predict that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Core & Main 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.