17,526 Shares in Core & Main, Inc. (NYSE:CNM) Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,526 shares of the company’s stock, valued at approximately $774,000.

A number of other large investors have also added to or reduced their stakes in CNM. United Services Automobile Association raised its position in shares of Core & Main by 2.0% in the 2nd quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock worth $651,000 after purchasing an additional 266 shares during the last quarter. Andina Capital Management LLC increased its stake in Core & Main by 3.5% during the 3rd quarter. Andina Capital Management LLC now owns 8,707 shares of the company’s stock valued at $387,000 after purchasing an additional 294 shares in the last quarter. GAMMA Investing LLC raised its holdings in Core & Main by 61.1% in the third quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $60,000 after buying an additional 511 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Core & Main in the third quarter worth approximately $26,000. Finally, National Bank of Canada FI grew its holdings in shares of Core & Main by 4.7% during the second quarter. National Bank of Canada FI now owns 14,453 shares of the company’s stock valued at $700,000 after buying an additional 653 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CNM has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $62.00 price target (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Bank of America reduced their price objective on Core & Main from $38.00 to $34.00 and set an “underperform” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company boosted their price objective on shares of Core & Main from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.10.

Insider Activity

In related news, CEO Stephen O. Leclair sold 200,000 shares of Core & Main stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the sale, the chief executive officer now owns 92,349 shares of the company’s stock, valued at approximately $5,068,113.12. This trade represents a 68.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Bradford A. Cowles sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $55.07, for a total value of $2,753,500.00. Following the completion of the transaction, the president now owns 18,423 shares of the company’s stock, valued at $1,014,554.61. The trade was a 73.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,000 shares of company stock valued at $15,926,000 in the last ninety days. Corporate insiders own 3.49% of the company’s stock.

Core & Main Stock Down 1.7 %

CNM opened at $51.99 on Wednesday. The firm’s 50 day simple moving average is $46.93 and its two-hundred day simple moving average is $47.65. The company has a market capitalization of $10.33 billion, a PE ratio of 24.41, a PEG ratio of 2.95 and a beta of 1.04. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Core & Main (NYSE:CNM) last announced its earnings results on Tuesday, December 3rd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. Core & Main’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, equities analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current year.

About Core & Main

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 sets, meter accessories, installation, software, and other services.