Redwood Investment Management LLC Sells 1,458 Shares of Core & Main, Inc. (NYSE:CNM)

Redwood Investment Management LLC reduced its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,030 shares of the company’s stock after selling 1,458 shares during the period. Redwood Investment Management LLC’s holdings in Core & Main were worth $1,427,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. US Bancorp DE grew its position in Core & Main by 12.3% during the fourth quarter. US Bancorp DE now owns 1,795 shares of the company’s stock valued at $91,000 after acquiring an additional 197 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in Core & Main by 4.8% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after acquiring an additional 258 shares during the last quarter. Avior Wealth Management LLC grew its position in Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after acquiring an additional 271 shares during the last quarter. Quadrant Capital Group LLC grew its position in Core & Main by 30.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock valued at $61,000 after acquiring an additional 278 shares during the last quarter. Finally, CIBC Asset Management Inc grew 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 worth $299,000 after purchasing an additional 287 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Performance

Shares of CNM stock opened at $52.69 on Friday. The stock has a fifty day moving average of $49.70 and a 200 day moving average of $50.37. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week high of $62.15. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 2.61 and a beta of 1.04. 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 announced its earnings results on Tuesday, March 25th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm posted $0.34 EPS. The business’s quarterly revenue was up 17.9% on a year-over-year basis. As a group, research analysts expect that Core & Main, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CNM shares. Robert W. Baird cut their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company raised their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Royal Bank of Canada cut their target price on shares of 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 started coverage on shares of Core & Main in a report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.55.

Insider Activity

In other news, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now owns 16,452 shares in the company, valued at approximately $770,282.64. The trade was a 57.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO John Weldon Stephens sold 10,214 shares of the business’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $53.02, for a total transaction of $541,546.28. Following the sale, the chief accounting officer now 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. In the last 90 days, insiders have sold 74,045 shares of company stock worth $3,683,698. Corporate insiders own 3.49% of the company’s stock.

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.