Circumference Group LLC Purchases 40,000 Shares of Core & Main, Inc. $CNM

Circumference Group LLC grew its position in Core & Main, Inc. (NYSE:CNM) by 80.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 90,000 shares of the company’s stock after acquiring an additional 40,000 shares during the quarter. Core & Main makes up about 5.0% of Circumference Group LLC’s investment portfolio, making the stock its 6th largest holding. Circumference Group LLC’s holdings in Core & Main were worth $4,677,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG increased its position in Core & Main by 1.1% in the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock worth $928,000 after purchasing an additional 190 shares during the last quarter. Modern Wealth Management LLC increased its position in Core & Main by 5.8% in the 3rd quarter. Modern Wealth Management LLC now owns 3,970 shares of the company’s stock worth $214,000 after purchasing an additional 218 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in Core & Main by 13.8% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock worth $109,000 after purchasing an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares during the last quarter. Finally, Steph & Co. increased its position in Core & Main by 36.6% in the 4th quarter. Steph & Co. now owns 1,037 shares of the company’s stock worth $54,000 after purchasing an additional 278 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Core & Main

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the transaction, the chief financial officer owned 12,500 shares of the company’s stock, valued at approximately $656,750. This represents a 28.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average price of $50.70 per share, with a total value of $99,980.40. Following the purchase, the director owned 6,939 shares in the company, valued at $351,807.30. This trade represents a 39.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CNM. Barclays dropped their target price on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft dropped their target price on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a research report on Thursday, June 11th. Finally, Citigroup dropped their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Core & Main has an average rating of “Moderate Buy” and an average price target of $57.73.

Core & Main Stock Performance

Shares of NYSE CNM opened at $46.43 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.66 and a beta of 0.91. The business’s 50-day simple moving average is $49.57 and its 200-day simple moving average is $52.12. Core & Main, Inc. has a 52 week low of $43.96 and a 52 week high of $67.18.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Wednesday, June 10th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.19. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. Core & Main had a return on equity of 26.17% and a net margin of 5.87%.The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS. As a group, equities research analysts expect that Core & Main, Inc. will post 3.06 earnings per share for the current fiscal year.

About Core & Main

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.