Amalgamated Bank Increases Stake in Core & Main, Inc. (NYSE:CNM)

Amalgamated Bank increased its position in shares of Core & Main, Inc. (NYSE:CNM) by 427.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,003 shares of the company’s stock after buying an additional 83,465 shares during the period. Amalgamated Bank’s holdings in Core & Main were worth $4,162,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CNM. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Core & Main in the third quarter valued at approximately $28,000. GAMMA Investing LLC purchased a new position in shares of Core & Main in the 4th quarter valued at $41,000. Kepos Capital LP acquired a new stake in Core & Main during the 3rd quarter worth $41,000. Whittier Trust Co. of Nevada Inc. lifted its position in Core & Main by 81.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,726 shares of the company’s stock valued at $50,000 after acquiring an additional 775 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Core & Main in the fourth quarter valued at $95,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insider Activity

In other Core & Main news, VP Jeffrey D. Giles sold 40,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.14, for a total value of $1,765,600.00. Following the completion of the transaction, the vice president now directly owns 8,217 shares of the company’s stock, valued at $362,698.38. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Jeffrey D. Giles sold 40,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.14, for a total value of $1,765,600.00. Following the sale, the vice president now directly owns 8,217 shares of the company’s stock, valued at approximately $362,698.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stephen O. Leclair sold 150,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $44.14, for a total transaction of $6,621,000.00. Following the transaction, the chief executive officer now owns 73,692 shares of the company’s stock, valued at $3,252,764.88. The disclosure for this sale can be found here. Insiders sold 520,500 shares of company stock worth $25,511,067 in the last 90 days. 3.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Citigroup cut Core & Main from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $63.00 to $64.00 in a research note on Friday, April 5th. Barclays raised their target price on shares of Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Loop Capital increased their price target on shares of Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, The Goldman Sachs Group raised their price objective on shares of Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $50.08.

Core & Main Trading Up 0.0 %

NYSE CNM opened at $59.64 on Thursday. Core & Main, Inc. has a 52-week low of $26.08 and a 52-week high of $60.83. The firm has a 50-day moving average price of $54.84 and a 200 day moving average price of $44.12. The stock has a market capitalization of $12.01 billion, a P/E ratio of 27.75, a P/E/G ratio of 1.81 and a beta of 1.14. The company has a quick ratio of 1.30, a current ratio of 2.29 and a debt-to-equity ratio of 1.22.

Core & Main (NYSE:CNM) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, meeting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that Core & Main, Inc. will post 2.59 EPS for the current year.

Core & Main Profile

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.