Levin Capital Strategies L.P. Sells 12,500 Shares of Core & Main, Inc. (NYSE:CNM)

Levin Capital Strategies L.P. trimmed its position in Core & Main, Inc. (NYSE:CNM) by 31.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,500 shares of the company’s stock after selling 12,500 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Core & Main were worth $1,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNM. Vanguard Group Inc. raised its holdings in shares of Core & Main by 14.3% during the third quarter. Vanguard Group Inc. now owns 9,490,896 shares of the company’s stock valued at $273,812,000 after acquiring an additional 1,187,700 shares in the last quarter. FMR LLC lifted its position in shares of Core & Main by 51.1% in the 3rd quarter. FMR LLC now owns 7,865,719 shares of the company’s stock worth $226,926,000 after purchasing an additional 2,660,097 shares during the period. Robeco Schweiz AG boosted its stake in shares of Core & Main by 7.6% during the 3rd quarter. Robeco Schweiz AG now owns 2,925,109 shares of the company’s stock valued at $84,389,000 after purchasing an additional 206,509 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Core & Main by 180.1% during the fourth quarter. Handelsbanken Fonder AB now owns 2,707,385 shares of the company’s stock valued at $109,405,000 after buying an additional 1,740,685 shares during the period. Finally, Invesco Ltd. raised its stake in Core & Main by 22.7% in the third quarter. Invesco Ltd. now owns 2,493,056 shares of the company’s stock worth $71,925,000 after buying an additional 461,393 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Trading Up 2.3 %

Shares of NYSE CNM traded up $1.31 during trading hours on Thursday, reaching $58.35. The stock had a trading volume of 699,741 shares, compared to its average volume of 2,735,414. Core & Main, Inc. has a 52-week low of $26.08 and a 52-week high of $60.83. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.75 and a beta of 1.14. The business’s fifty day moving average price is $53.64 and its two-hundred day moving average price is $43.15. The company has a current ratio of 2.29, a quick ratio of 1.30 and a debt-to-equity ratio of 1.22.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.43 billion. Core & Main had a net margin of 5.54% and a return on equity of 18.22%. Core & Main’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Analysts expect that Core & Main, Inc. will post 2.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Core & Main from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Loop Capital raised their target price on shares of Core & Main from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price target on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Barclays raised their price objective on Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, The Goldman Sachs Group boosted their target price on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Insider Buying and Selling at Core & Main

In related news, CEO Stephen O. Leclair sold 150,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $44.14, for a total value of $6,621,000.00. Following the transaction, the chief executive officer now directly owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Stephen O. Leclair sold 150,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $44.14, for a total value of $6,621,000.00. Following the sale, the chief executive officer now directly owns 73,692 shares of the company’s stock, valued at approximately $3,252,764.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark R. Witkowski sold 50,000 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the transaction, the chief financial officer now directly owns 23,898 shares of the company’s stock, valued at approximately $1,398,271.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 520,500 shares of company stock worth $25,511,067. 3.49% of the stock is owned by insiders.

Core & Main Company 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.