UMB Bank n.a. Buys 1,295 Shares of Core & Main, Inc. (NYSE:CNM)

UMB Bank n.a. lifted its stake in Core & Main, Inc. (NYSE:CNM) by 134.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,257 shares of the company’s stock after acquiring an additional 1,295 shares during the period. UMB Bank n.a.’s holdings in Core & Main were worth $109,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of Core & Main by 447.1% in the first quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after acquiring an additional 532 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Core & Main by 1,491.8% in the first quarter. Versant Capital Management Inc now owns 1,162 shares of the company’s stock worth $56,000 after acquiring an additional 1,089 shares during the period. Quadrant Capital Group LLC boosted its holdings in shares of Core & Main by 30.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,203 shares of the company’s stock worth $61,000 after acquiring an additional 278 shares during the period. Blue Trust Inc. boosted its holdings in shares of Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after acquiring an additional 830 shares during the period. Finally, Ancora Advisors LLC bought a new position in shares of Core & Main in the fourth quarter worth $75,000. 94.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup increased their price objective on Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on Core & Main from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Wells Fargo & Company increased their price objective on Core & Main from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Core & Main in a research report on Tuesday, April 1st. They issued a “buy” rating and a $60.00 price objective on the stock. Finally, Robert W. Baird lowered their price objective on Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.55.

Core & Main Trading Down 1.3%

NYSE CNM opened at $56.70 on Friday. The stock’s 50-day simple moving average is $52.71 and its two-hundred day simple moving average is $51.95. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $60.38. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $11.22 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.61 and a beta of 1.02.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.52. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts forecast that Core & Main, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In other news, insider Laura K. Schneider sold 45,695 shares of Core & Main stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total value of $2,570,343.75. Following the transaction, the insider now owns 12,873 shares in the company, valued at approximately $724,106.25. The trade was a 78.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 900 shares of Core & Main stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $60.03, for a total value of $54,027.00. Following the completion of the transaction, the general counsel now owns 9,691 shares in the company, valued at approximately $581,750.73. This represents a 8.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 157,666 shares of company stock worth $8,770,352 over the last 90 days. Corporate insiders own 3.53% of the company’s stock.

Core & Main 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.