DF Dent & Co. Inc. Cuts Stock Holdings in Core & Main, Inc. (NYSE:CNM)

DF Dent & Co. Inc. reduced its stake in Core & Main, Inc. (NYSE:CNM) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 815,124 shares of the company’s stock after selling 22,569 shares during the quarter. DF Dent & Co. Inc. owned approximately 0.41% of Core & Main worth $41,498,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CNM. ExodusPoint Capital Management LP raised its holdings in shares of Core & Main by 2,774.4% in the fourth quarter. ExodusPoint Capital Management LP now owns 308,478 shares of the company’s stock valued at $15,705,000 after purchasing an additional 297,746 shares during the last quarter. Bryce Point Capital LLC bought a new stake in Core & Main in the 4th quarter worth about $1,768,000. Trexquant Investment LP purchased a new stake in Core & Main in the 4th quarter valued at about $2,172,000. Geode Capital Management LLC lifted its position in shares of Core & Main by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,288,763 shares of the company’s stock worth $167,483,000 after buying an additional 26,799 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Core & Main by 3.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 26,784 shares of the company’s stock worth $1,364,000 after buying an additional 826 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP John R. Schaller sold 21,868 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares of the company’s stock, valued at approximately $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the sale, the president now directly owns 16,010 shares of the company’s stock, valued at $808,505. This represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,294 shares of company stock worth $9,383,685 in the last three months. 3.49% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CNM shares. Citigroup increased their price target on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Royal Bank of Canada lowered their target price on Core & Main from $62.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. The Goldman Sachs Group increased their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Truist Financial lifted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Barclays increased their target price on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One equities 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 stock. According to data from MarketBeat.com, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price of $57.55.

Core & Main Price Performance

Shares of NYSE CNM opened at $50.92 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The stock has a market cap of $10.12 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The stock has a fifty day moving average of $51.46 and a 200-day moving average of $49.08.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.33 earnings per share 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 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 prior year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 17.9% on a year-over-year basis. Equities research analysts anticipate that Core & Main, Inc. will post 2.16 earnings per share for the current year.

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.