Level Four Advisory Services LLC Sells 755 Shares of Core & Main, Inc. (NYSE:CNM)

Level Four Advisory Services LLC reduced its stake in Core & Main, Inc. (NYSE:CNM) by 12.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,173 shares of the company’s stock after selling 755 shares during the period. Level Four Advisory Services LLC’s holdings in Core & Main were worth $263,000 at the end of the most recent quarter.

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

Core & Main Price Performance

NYSE:CNM opened at $49.36 on Wednesday. The firm has a fifty day simple moving average of $51.58 and a 200 day simple moving average of $49.07. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The stock has a market capitalization of $9.81 billion, a PE ratio of 23.17, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last issued 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). Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. On average, research analysts expect that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup lifted their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a report on Tuesday. They issued a “buy” rating and a $60.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Truist Financial upped their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada dropped their price target on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. One equities research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.55.

Insider Buying and Selling

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. This trade represents a 86.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John R. Schaller sold 60,452 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the completion of the sale, the executive vice president now directly owns 17,898 shares of the company’s stock, 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. In the last 90 days, insiders sold 184,294 shares of company stock valued at $9,383,685. Company insiders own 3.49% of the company’s stock.

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.