SG Americas Securities LLC Takes $3.81 Million Position in Core & Main, Inc. (NYSE:CNM)

SG Americas Securities LLC bought a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the 1st quarter, HoldingsChannel.com reports. The firm bought 78,774 shares of the company’s stock, valued at approximately $3,806,000.

Several other institutional investors have also made changes to their positions in CNM. Parallel Advisors LLC boosted its position in shares of Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after acquiring an additional 532 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Core & Main by 1,491.8% during the 1st quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock valued at $56,000 after purchasing an additional 1,089 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after purchasing an additional 278 shares during the last quarter. Blue Trust Inc. lifted its holdings in Core & Main by 187.4% during the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares during the last quarter. Finally, Ancora Advisors LLC bought a new position in Core & Main during the 4th quarter valued at about $75,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Trading Down 1.2%

Shares of NYSE CNM opened at $56.05 on Friday. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $60.38. The company has a market cap of $11.09 billion, a PE ratio of 26.31, a P/E/G ratio of 2.61 and a beta of 1.02. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a 50-day moving average of $52.95 and a two-hundred day moving average of $52.01.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.52. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

CNM has been the subject of several analyst reports. Loop Capital lifted their price target on shares of Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Robert W. Baird cut their price target on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a report on Tuesday, April 1st. They set a “buy” rating and a $60.00 price target for the company. Finally, Citigroup lifted their price target on shares of Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday. 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.55.

Insider Buying and Selling

In related news, insider Laura K. Schneider sold 45,695 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the sale, the insider now directly owns 12,873 shares of the company’s stock, valued at $724,106.25. The trade was a 78.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Mark G. Whittenburg sold 900 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.03, for a total transaction of $54,027.00. Following the sale, the general counsel now directly owns 9,691 shares of the company’s stock, valued at approximately $581,750.73. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 157,666 shares of company stock valued at $8,770,352 over the last ninety days. Insiders own 3.53% of the company’s stock.

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.