Quantinno Capital Management LP Sells 23,442 Shares of Core & Main, Inc. (NYSE:CNM)

Jul 15, 2023

Quantinno Capital Management LP trimmed its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 67.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,117 shares of the company's stock after selling 23,442 shares during the quarter. Quantinno Capital Management LP's holdings in Core & Main were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CNM. Victory Capital Management Inc. grew its stake in shares of Core & Main by 46.7% during the first quarter. Victory Capital Management Inc. now owns 5,861,843 shares of the company's stock valued at $135,409,000 after purchasing an additional 1,866,639 shares during the last quarter. SG Americas Securities LLC grew its position in Core & Main by 2.2% in the first quarter. SG Americas Securities LLC now owns 18,713 shares of the company's stock valued at $432,000 after purchasing an additional 403 shares in the last quarter. River Road Asset Management LLC bought a new position in Core & Main in the first quarter valued at $8,889,000. Arizona State Retirement System grew its position in Core & Main by 5.3% in the first quarter. Arizona State Retirement System now owns 19,964 shares of the company's stock valued at $461,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in shares of Core & Main in the 1st quarter valued at about $402,000. 97.37% of the stock is owned by institutional investors.

In other news, CEO Stephen O. Leclair sold 4,288 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $28.76, for a total transaction of $123,322.88. Following the completion of the transaction, the chief executive officer now directly owns 73,692 shares in the company, valued at approximately $2,119,381.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, President John R. Schaller sold 25,000 shares of Core & Main stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $31.96, for a total transaction of $799,000.00. Following the completion of the sale, the president now owns 15,903 shares of the company's stock, valued at $508,259.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen O. Leclair sold 4,288 shares of the business's stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $28.76, for a total value of $123,322.88. Following the completion of the transaction, the chief executive officer now directly owns 73,692 shares of the company's stock, valued at $2,119,381.92. The disclosure for this sale can be found here. Insiders sold a total of 17,334,807 shares of company stock valued at $489,153,103 in the last three months. 3.49% of the stock is currently owned by corporate insiders.

A number of analysts have recently issued reports on CNM shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Core & Main from $42.00 to $44.00 in a research note on Monday, June 12th. Barclays lifted their price target on shares of Core & Main from $37.00 to $38.00 in a report on Thursday, July 13th. Royal Bank of Canada boosted their target price on shares of Core & Main from $26.00 to $33.00 in a report on Wednesday, June 7th. Truist Financial boosted their price target on shares of Core & Main from $24.00 to $29.00 in a research report on Thursday, June 8th. Finally, TheStreet upgraded shares of Core & Main from a "c" rating to a "b-" rating in a research report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $34.30.

Check Out Our Latest Report on Core & Main

Shares of Core & Main stock opened at $31.72 on Thursday. The company has a current ratio of 2.71, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $7.33 billion, a P/E ratio of 14.89 and a beta of 0.92. The business has a fifty day simple moving average of $29.76 and a two-hundred day simple moving average of $25.73. Core & Main, Inc. has a 12 month low of $18.75 and a 12 month high of $32.63.

Core & Main (NYSE:CNM - Get Free Report) last posted its quarterly earnings results on Tuesday, June 6th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. Core & Main had a return on equity of 18.42% and a net margin of 5.52%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. Core & Main's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that Core & Main, Inc. will post 1.99 earnings per share for the current fiscal year.

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter accessories, installation, software, and other services.

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