Silvercrest Asset Management Group LLC Sells 12,992 Shares of Core & Main, Inc. (NYSE:CNM)

Silvercrest Asset Management Group LLC cut its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 1.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 778,182 shares of the company’s stock after selling 12,992 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Core & Main were worth $39,617,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in Core & Main by 12.3% during the fourth quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after acquiring an additional 197 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Core & Main by 4.8% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after purchasing an additional 258 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of 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 in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings 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 purchasing an additional 287 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada cut their price target on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company boosted their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Robert W. Baird cut their price target on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.55.

Core & Main Stock Performance

CNM opened at $54.14 on Friday. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $61.33. The firm has a market capitalization of $10.71 billion, a PE ratio of 25.42, a PEG ratio of 2.61 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The business’s 50-day simple moving average is $49.85 and its 200 day simple moving average is $50.43.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share (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 company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares of the company’s stock, valued at $770,282.64. The trade was a 57.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO John Weldon Stephens sold 10,214 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $53.02, for a total value of $541,546.28. Following the transaction, the chief accounting officer now directly owns 4,120 shares in the company, valued at approximately $218,442.40. This trade represents a 71.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,045 shares of company stock worth $3,683,698. Corporate 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.