Core & Main, Inc. $CNM Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 23.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 328,366 shares of the company’s stock after purchasing an additional 62,553 shares during the period. Thrivent Financial for Lutherans’ holdings in Core & Main were worth $17,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNM. Allworth Financial LP increased its stake in shares of Core & Main by 10.6% during the 4th quarter. Allworth Financial LP now owns 11,453 shares of the company’s stock worth $595,000 after purchasing an additional 1,102 shares in the last quarter. Madison Asset Management LLC lifted its stake in Core & Main by 0.7% in the 4th quarter. Madison Asset Management LLC now owns 116,796 shares of the company’s stock valued at $6,070,000 after buying an additional 773 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Core & Main in the 4th quarter valued at approximately $2,040,000. Versor Investments LP acquired a new stake in Core & Main during the 4th quarter valued at $887,000. Finally, Bryn Mawr Trust Advisors LLC acquired a new stake in Core & Main during the 4th quarter valued at $337,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Price Performance

CNM stock opened at $46.18 on Tuesday. The stock has a 50-day moving average price of $49.57 and a two-hundred day moving average price of $52.07. Core & Main, Inc. has a 12-month low of $43.96 and a 12-month high of $67.18. The company has a current ratio of 2.63, a quick ratio of 1.51 and a debt-to-equity ratio of 1.02. The company has a market cap of $8.99 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93.

Insiders Place Their Bets

In other news, Director James D. Hope acquired 1,972 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were bought at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the purchase, the director directly owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. This trade represents a 39.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the transaction, the chief financial officer owned 12,500 shares in the company, valued at $656,750. This represents a 28.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.51% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CNM shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Zacks Research cut shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Barclays lowered their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.64.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.