Venturi Wealth Management LLC Takes Position in Core & Main, Inc. (NYSE:CNM)

Venturi Wealth Management LLC purchased a new stake in Core & Main, Inc. (NYSE:CNM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,739 shares of the company’s stock, valued at approximately $89,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Truist Financial Corp grew its holdings in Core & Main by 3.2% during the 4th quarter. Truist Financial Corp now owns 581,845 shares of the company’s stock valued at $29,622,000 after purchasing an additional 17,899 shares in the last quarter. CIBC Asset Management Inc boosted its position in Core & Main by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock valued at $299,000 after buying an additional 287 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Core & Main during the fourth quarter valued at about $201,000. Sheaff Brock Investment Advisors LLC increased its position in shares of Core & Main by 9.3% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 8,838 shares of the company’s stock worth $450,000 after acquiring an additional 752 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its stake in shares of Core & Main by 10.9% in the fourth quarter. New Mexico Educational Retirement Board now owns 39,600 shares of the company’s stock worth $2,016,000 after acquiring an additional 3,900 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Jeffrey D. Giles sold 25,000 shares of Core & Main stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.71, for a total value of $1,367,750.00. Following the sale, the executive vice president now directly owns 11,615 shares in the company, valued at $635,456.65. This trade represents a 68.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen O. Leclair sold 200,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the transaction, the chief executive officer now directly owns 92,349 shares of the company’s stock, valued at $5,068,113.12. The trade was a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 452,426 shares of company stock valued at $24,285,825 over the last three months. Company insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $50.97 on Monday. The company has a market cap of $10.13 billion, a PE ratio of 23.93, a P/E/G ratio of 2.61 and a beta of 1.03. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm has a 50-day simple moving average of $53.44 and a 200 day simple moving average of $48.72. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last posted its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 earnings per share. On average, sell-side analysts anticipate that Core & Main, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

CNM has been the subject of a number of recent analyst reports. Barclays raised their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Robert W. Baird increased their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Citigroup raised their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, Truist Financial upped their target price on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Core & Main 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.