Weiss Asset Management LP Buys Shares of 17,500 Core & Main, Inc. $CNM

Weiss Asset Management LP purchased a new position in Core & Main, Inc. (NYSE:CNM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,500 shares of the company’s stock, valued at approximately $864,000.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Core & Main in the 4th quarter valued at about $26,000. Whittier Trust Co. acquired a new stake in shares of Core & Main in the 4th quarter valued at about $28,000. Cubist Systematic Strategies LLC lifted its holdings 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 valued at $35,000 after purchasing an additional 524 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Core & Main in the fourth quarter valued at about $38,000. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Trading Up 0.0%

CNM stock opened at $43.63 on Tuesday. Core & Main, Inc. has a one year low of $42.50 and a one year high of $67.18. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.51 and a beta of 0.91. The company has a fifty day moving average price of $47.26 and a two-hundred day moving average price of $50.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31.

Insiders Place Their Bets

In other news, Director James D. Hope purchased 2,067 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was bought at an average price of $46.01 per share, with a total value of $95,102.67. Following the acquisition, the director owned 11,805 shares in the company, valued at approximately $543,148.05. The trade was a 21.23% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CNM shares. Wall Street Zen raised shares of Core & Main from a “hold” rating to a “buy” rating in a research note on Saturday. William Blair assumed coverage on shares of Core & Main in a research report on Thursday. They issued a “market perform” rating on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a research report on Thursday, June 11th. Finally, Citigroup lowered their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.70.

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.