Core & Main, Inc. $CNM Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its stake in shares of Core & Main, Inc. (NYSE:CNM) by 49.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,426,831 shares of the company’s stock after selling 1,423,401 shares during the period. Handelsbanken Fonder AB’s holdings in Core & Main were worth $74,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNM. Cubist Systematic Strategies LLC increased its position in Core & Main by 262.0% during 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. AQR Capital Management LLC acquired a new position in Core & Main during the first quarter worth approximately $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Core & Main by 36.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock worth $1,719,000 after purchasing an additional 9,534 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Core & Main by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after purchasing an additional 54,854 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Core & Main by 145.4% during 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. Institutional investors and hedge funds own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CNM. Zacks Research downgraded shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft reduced their target price 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, Barclays decreased their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.64.

Core & Main Stock Down 1.3%

Shares of Core & Main stock opened at $46.18 on Tuesday. The company has a fifty day moving average price of $49.57 and a 200 day moving average price of $52.07. The company has a current ratio of 2.63, a quick ratio of 1.51 and a debt-to-equity ratio of 1.02. Core & Main, Inc. has a twelve month low of $43.96 and a twelve month high of $67.18. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93.

Insider Buying and Selling at Core & Main

In other news, Director James D. Hope bought 1,972 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average cost of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the purchase, the director owned 6,939 shares of the company’s stock, valued at $351,807.30. This trade represents a 39.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 12,500 shares of the company’s stock, valued at $656,750. This trade represents a 28.57% decrease in their ownership of the stock. 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. 1.51% of the stock is currently owned by corporate insiders.

Core & Main 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.