Oak Thistle LLC Sells 26,772 Shares of Core & Main, Inc. (NYSE:CNM)

Oak Thistle LLC decreased its position in shares of Core & Main, Inc. (NYSE:CNM) by 84.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 5,015 shares of the company’s stock after selling 26,772 shares during the quarter. Oak Thistle LLC’s holdings in Core & Main were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC grew its stake in Core & Main by 447.1% in the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after purchasing an additional 532 shares during the last quarter. Rossby Financial LCC purchased a new position in Core & Main in the first quarter valued at about $37,000. CWM LLC grew its stake in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company’s stock valued at $41,000 after purchasing an additional 213 shares during the last quarter. Versant Capital Management Inc grew its stake in Core & Main by 1,491.8% in the first 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. Finally, Quadrant Capital Group LLC grew its stake in Core & Main by 30.1% in the fourth 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. Institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 0.9%

Core & Main stock opened at $65.73 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.96 and a debt-to-equity ratio of 1.23. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $65.94. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.92 and a beta of 1.04. The stock has a 50-day moving average price of $58.82 and a 200 day moving average price of $53.93.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Core & Main had a return on equity of 23.55% and a net margin of 5.47%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on CNM shares. Loop Capital lifted their target price on Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. JPMorgan Chase & Co. boosted their target price on Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 27th. Wells Fargo & Company boosted their target price on Core & Main from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft began coverage on Core & Main in a report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price target for the company. Finally, Royal Bank Of Canada raised their price target on Core & Main from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Insider Activity

In related news, Director Orvin T. Kimbrough sold 23,962 shares of Core & Main stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the completion of the transaction, the director directly owned 13,958 shares in the company, valued at approximately $862,185.66. This trade represents a 63.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Witkowski sold 100,000 shares of Core & Main stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $61.26, for a total value of $6,126,000.00. Following the transaction, the chief executive officer owned 35,847 shares of the company’s stock, valued at approximately $2,195,987.22. This represents a 73.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,659 shares of company stock valued at $26,587,301. 3.53% of the stock is owned by 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.