PGGM Investments Purchases 168,936 Shares of Core & Main, Inc. $CNM

PGGM Investments grew its position in shares of Core & Main, Inc. (NYSE:CNM) by 56.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 467,436 shares of the company’s stock after acquiring an additional 168,936 shares during the period. PGGM Investments owned about 0.24% of Core & Main worth $24,293,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNM. EverSource Wealth Advisors LLC increased its position 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 buying an additional 269 shares during the period. TD Waterhouse Canada Inc. purchased a new position in shares of Core & Main during the fourth quarter valued at about $26,000. Whittier Trust Co. purchased a new position in shares of Core & Main during the fourth quarter valued at about $28,000. Cubist Systematic Strategies LLC increased its position 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 buying an additional 524 shares during the period. Finally, Rothschild Investment LLC increased its position 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 buying an additional 752 shares during the period. 94.19% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Core & Main Price Performance

Shares of CNM opened at $47.27 on Tuesday. The firm’s 50-day simple moving average is $49.33 and its two-hundred day simple moving average is $51.88. Core & Main, Inc. has a fifty-two week low of $43.96 and a fifty-two week high of $67.18. 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 market cap of $9.20 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.71 and a beta of 0.93.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNM shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock 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 report on Monday, February 9th. Finally, Barclays reduced their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.