Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes $3.20 Million Position in Core & Main, Inc. $CNM

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,638 shares of the company’s stock, valued at approximately $3,203,000.

Several other institutional investors have also recently made changes to their positions in CNM. TD Waterhouse Canada Inc. acquired a new position in shares of Core & Main during the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Core & Main by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 269 shares during the period. Whittier Trust Co. acquired a new position in shares of Core & Main during the fourth quarter valued at about $28,000. Cubist Systematic Strategies LLC raised its holdings in shares of Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the period. Finally, Rothschild Investment LLC raised its holdings in shares of Core & Main by 5,013.3% during the third quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock valued at $41,000 after purchasing an additional 752 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Stock Performance

Shares of CNM opened at $47.11 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63. The stock has a 50 day moving average price of $49.42 and a two-hundred day moving average price of $51.97. The firm has a market capitalization of $9.17 billion, a P/E ratio of 20.39, a P/E/G ratio of 1.63 and a beta of 0.93. Core & Main, Inc. has a 52 week low of $43.96 and a 52 week high of $67.18.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Core & Main news, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at approximately $656,750. The trade was a 28.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope acquired 1,972 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $50.70 per share, with a total value of $99,980.40. Following the completion of the acquisition, the director directly owned 6,939 shares in the company, valued at approximately $351,807.30. This represents a 39.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.51% of the company’s stock.

About Core & Main

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.