14,508 Shares in Core & Main, Inc. (NYSE:CNM) Bought by Virtu Financial LLC

Virtu Financial LLC bought a new position in Core & Main, Inc. (NYSE:CNM) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,508 shares of the company’s stock, valued at approximately $831,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in shares of Core & Main by 74.5% during the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after buying an additional 365 shares during the last quarter. Lisanti Capital Growth LLC raised its stake in shares of Core & Main by 0.3% during the 1st quarter. Lisanti Capital Growth LLC now owns 157,865 shares of the company’s stock valued at $9,038,000 after buying an additional 395 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of Core & Main during the 1st quarter valued at about $27,000. Sheaff Brock Investment Advisors LLC raised its stake in shares of Core & Main by 7.1% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 7,229 shares of the company’s stock valued at $414,000 after buying an additional 481 shares during the last quarter. Finally, Isthmus Partners LLC raised its stake in shares of Core & Main by 0.7% during the 1st quarter. Isthmus Partners LLC now owns 97,637 shares of the company’s stock valued at $5,590,000 after buying an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $60.00 price objective on shares of Core & Main in a research note on Wednesday, June 5th. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Finally, Truist Financial dropped their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research report on Wednesday, June 5th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.90.

Insider Buying and Selling

In related news, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $59.50, for a total value of $2,975,000.00. Following the sale, the chief financial officer now directly owns 23,898 shares in the company, valued at approximately $1,421,931. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Mark R. Witkowski sold 50,000 shares of Core & Main stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $59.50, for a total value of $2,975,000.00. Following the sale, the chief financial officer now directly owns 23,898 shares in the company, valued at approximately $1,421,931. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James G. Castellano sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $52.22, for a total value of $652,750.00. Following the transaction, the director now owns 11,769 shares in the company, valued at $614,577.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,700 shares of company stock worth $3,637,752. Insiders own 3.49% of the company’s stock.

Core & Main Trading Down 4.0 %

CNM stock opened at $48.86 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Core & Main, Inc. has a 12-month low of $27.75 and a 12-month high of $62.15. The stock has a market cap of $9.84 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.92 and a beta of 1.06. The business’s 50-day moving average is $51.26 and its 200 day moving average is $51.52.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, sell-side analysts anticipate that Core & Main, Inc. will post 2.32 EPS for the current fiscal year.

About Core & Main

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.