Headlands Technologies LLC Sells 1,342 Shares of Core & Main, Inc. (NYSE:CNM)

Headlands Technologies LLC lessened its holdings in Core & Main, Inc. (NYSE:CNM) by 8.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,294 shares of the company’s stock after selling 1,342 shares during the period. Headlands Technologies LLC’s holdings in Core & Main were worth $779,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CNM. US Bancorp DE increased its stake in Core & Main by 12.3% in the 4th quarter. US Bancorp DE now owns 1,795 shares of the company’s stock valued at $91,000 after buying an additional 197 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in shares of Core & Main by 4.8% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after acquiring an additional 258 shares in the last quarter. Avior Wealth Management LLC grew its holdings in shares of Core & Main by 51.3% in the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after acquiring an additional 271 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Core & Main by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after acquiring an additional 287 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Core & Main by 0.6% during the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company’s stock worth $2,846,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of CNM stock opened at $50.92 on Thursday. The company has a market capitalization of $10.12 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The company has a 50-day simple moving average of $51.46 and a 200 day simple moving average of $49.08.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.70 billion during 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 for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. On average, sell-side analysts predict that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on CNM shares. The Goldman Sachs Group raised their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Robert W. Baird decreased their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Truist Financial increased their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and an average target price of $57.55.

Insider Buying and Selling at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the sale, the general counsel now owns 7,667 shares in the company, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Schaller sold 60,452 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares in the company, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock valued at $9,383,685 in the last ninety days. 3.49% of the stock is currently owned by corporate insiders.

About Core & Main

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.