Southeast Asset Advisors LLC Sells 22,174 Shares of Core & Main, Inc. (NYSE:CNM)

Southeast Asset Advisors LLC lessened its stake in shares of Core & Main, Inc. (NYSE:CNM) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 87,457 shares of the company’s stock after selling 22,174 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Core & Main were worth $4,452,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Avior Wealth Management LLC grew its position 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 acquiring an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main in the third quarter valued at approximately $49,000. UMB Bank n.a. raised its holdings in Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Core & Main by 30.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after buying an additional 278 shares during the period. Finally, Blue Trust Inc. grew 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 worth $65,000 after acquiring an additional 830 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Core & Main news, EVP John R. Schaller sold 60,452 shares of the business’s stock in a transaction on 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 owns 17,898 shares in the company, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the completion of the transaction, the general counsel now directly owns 7,667 shares in the company, valued at $387,106.83. This trade represents a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 226,257 shares of company stock worth $11,501,977 over the last quarter. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Stock Down 2.3 %

Shares of NYSE CNM opened at $46.12 on Monday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The firm has a market cap of $9.13 billion, a PE ratio of 21.65, a P/E/G ratio of 2.61 and a beta of 1.05. The company’s fifty day simple moving average is $51.06 and its 200 day simple moving average is $49.19. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15.

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 net margin of 5.71% and a return on equity of 24.71%. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, sell-side analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNM. Citigroup lifted their price target 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. Wells Fargo & Company upped their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Robert W. Baird lowered their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating for the company in a research report on Wednesday, March 26th. Royal Bank of Canada reduced their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Finally, 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.55.

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.