Vanguard Group Inc. Trims Holdings in Core & Main, Inc. $CNM

Vanguard Group Inc. trimmed its position in Core & Main, Inc. (NYSE:CNM) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,598,217 shares of the company’s stock after selling 106,652 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Core & Main worth $914,579,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised 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 purchasing an additional 269 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of Core & Main in the fourth quarter worth about $26,000. Whittier Trust Co. purchased a new position in shares of Core & Main in the fourth quarter worth about $28,000. Cubist Systematic Strategies LLC raised 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 purchasing an additional 524 shares during the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of Core & Main by 5,013.3% in the third quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock worth $41,000 after purchasing an additional 752 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CNM has been the subject of several research analyst reports. Barclays reduced their price objective on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Wells Fargo & Company raised their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $63.00 price objective on shares of Core & Main in a research note on Friday, January 9th. Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Citigroup lifted their price target on Core & Main from $56.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.64.

Insider Activity at Core & Main

In related news, Director James D. Hope purchased 1,972 shares of Core & Main stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average cost of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director owned 6,939 shares in the company, valued at $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robyn L. Bradbury sold 5,000 shares of Core & Main stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the transaction, the chief financial officer owned 12,500 shares of the company’s stock, valued at approximately $656,750. This represents a 28.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.53% of the stock is currently owned by company insiders.

Core & Main Stock Down 2.6%

Shares of CNM stock opened at $49.04 on Friday. The stock has a 50 day moving average of $50.81 and a 200 day moving average of $52.40. 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 stock has a market cap of $9.55 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.77 and a beta of 0.93. Core & Main, Inc. has a twelve month low of $43.96 and a twelve month high of $67.18.

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.