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

Swedbank AB lessened its holdings in Core & Main, Inc. (NYSE:CNM) by 9.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,084,200 shares of the company’s stock after selling 114,800 shares during the period. Swedbank AB’s holdings in Core & Main were worth $56,346,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Modern Wealth Management LLC lifted its stake in shares of Core & Main by 5.8% in the 3rd quarter. Modern Wealth Management LLC now owns 3,970 shares of the company’s stock valued at $214,000 after purchasing an additional 218 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Core & Main by 13.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock valued at $109,000 after acquiring an additional 237 shares during the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Core & Main by 0.6% during the third quarter. Johnson Investment Counsel Inc. now owns 43,070 shares of the company’s stock valued at $2,318,000 after acquiring an additional 244 shares during the last quarter. 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 acquiring an additional 269 shares during the last quarter. Finally, Steph & Co. increased its position in shares of Core & Main by 36.6% during the fourth quarter. Steph & Co. now owns 1,037 shares of the company’s stock valued at $54,000 after acquiring an additional 278 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Buying and Selling at Core & Main

In related news, Director James D. Hope acquired 1,972 shares of Core & Main stock in a transaction dated Tuesday, April 7th. The shares were 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 in the company, valued at approximately $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer owned 12,500 shares in the company, valued at approximately $656,750. This 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. 3.53% of the stock is currently owned by company insiders.

Core & Main Stock Up 3.4%

Shares of NYSE CNM opened at $50.69 on Thursday. The stock has a market cap of $9.87 billion, a P/E ratio of 21.94, a PEG ratio of 1.77 and a beta of 0.93. 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 12-month low of $43.96 and a 12-month high of $67.18. The business’s fifty day simple moving average is $50.59 and its 200-day simple moving average is $52.37.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays lowered their price target on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Royal Bank Of Canada restated an “outperform” rating and set a $63.00 price target on shares of Core & Main in a research report on Friday, January 9th. Zacks Research lowered Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft lowered their price target on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company raised their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.64.

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.