CI Investments Inc. Sells 31,423 Shares of Core & Main, Inc. $CNM

CI Investments Inc. cut its position in shares of Core & Main, Inc. (NYSE:CNM) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 358,166 shares of the company’s stock after selling 31,423 shares during the quarter. CI Investments Inc. owned about 0.18% of Core & Main worth $17,693,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 269 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in Core & Main during the 4th quarter valued at about $26,000. Whittier Trust Co. bought a new stake in Core & Main during the 4th quarter valued at about $28,000. Cubist Systematic Strategies LLC lifted its stake in shares of Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Core & Main during the fourth quarter valued at approximately $38,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Citigroup lowered their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a report on Thursday, June 11th. Finally, Barclays lowered their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.73.

Insider Transactions at Core & Main

In related news, Director James D. Hope acquired 2,067 shares of the business’s stock in a transaction on Monday, July 6th. The stock was acquired at an average cost of $46.01 per share, with a total value of $95,102.67. Following the acquisition, the director directly owned 11,805 shares in the company, valued at $543,148.05. This represents a 21.23% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.51% of the company’s stock.

Core & Main Trading Up 0.9%

Shares of CNM stock opened at $43.75 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The stock has a fifty day simple moving average of $47.48 and a two-hundred day simple moving average of $50.95. The firm has a market capitalization of $8.47 billion, a PE ratio of 18.54, a PEG ratio of 1.50 and a beta of 0.91. Core & Main, Inc. has a 52-week low of $42.50 and a 52-week high of $67.18.

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.