Skandinaviska Enskilda Banken AB publ Purchases 242,400 Shares of Core & Main, Inc. (NYSE:CNM)

Skandinaviska Enskilda Banken AB publ boosted its position in shares of Core & Main, Inc. (NYSE:CNM) by 44.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 786,800 shares of the company’s stock after buying an additional 242,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Core & Main were worth $39,946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in CNM. Ashton Thomas Securities LLC purchased a new stake in Core & Main in the third quarter worth about $26,000. Avior Wealth Management LLC lifted its position in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after buying an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Core & Main during the 3rd quarter valued at $49,000. UMB Bank n.a. lifted its position in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Core & Main by 187.4% in the 4th quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after purchasing an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John R. Schaller sold 60,452 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now directly owns 17,898 shares in the company, valued at $905,101.86. This trade represents a 77.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of the company’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the sale, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. The trade was a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,294 shares of company stock valued at $9,383,685. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Stock Up 2.0 %

Shares of CNM stock opened at $47.47 on Thursday. The stock’s fifty day moving average price is $52.80 and its 200 day moving average price is $48.56. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CNM. Robert W. Baird lifted their price objective on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Barclays boosted their price objective on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Citigroup upped their price target on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

About Core & Main

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.