Danske Bank A S Decreases Holdings in Core & Main, Inc. $CNM

Danske Bank A S trimmed its position in shares of Core & Main, Inc. (NYSE:CNM) by 92.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,700 shares of the company’s stock after selling 20,165 shares during the quarter. Danske Bank A S’s holdings in Core & Main were worth $88,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. New York State Teachers Retirement System raised its holdings in shares of Core & Main by 1.7% during the 4th quarter. New York State Teachers Retirement System now owns 106,167 shares of the company’s stock valued at $5,517,000 after buying an additional 1,741 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Core & Main by 4.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 66,901 shares of the company’s stock valued at $3,477,000 after buying an additional 2,642 shares in the last quarter. American Capital Advisory LLC raised its holdings in shares of Core & Main by 1,091,100.0% during the 4th quarter. American Capital Advisory LLC now owns 10,912 shares of the company’s stock valued at $567,000 after buying an additional 10,911 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Core & Main during the 4th quarter valued at about $204,000. Finally, M&T Bank Corp increased its stake in Core & Main by 49.8% in the 4th quarter. M&T Bank Corp now owns 6,620 shares of the company’s stock worth $344,000 after purchasing an additional 2,200 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction dated 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 directly owned 12,500 shares of the company’s stock, valued at approximately $656,750. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $50.70 per share, with a total value of $99,980.40. Following the completion of the transaction, the director owned 6,939 shares in the company, valued at approximately $351,807.30. This trade represents a 39.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.53% of the company’s stock.

Core & Main Trading Down 1.9%

NYSE:CNM opened at $49.72 on Friday. The company has a 50-day moving average price of $50.47 and a 200-day moving average price of $52.36. Core & Main, Inc. has a 12 month low of $43.96 and a 12 month high of $67.18. 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 $9.68 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 1.83 and a beta of 0.93.

Wall Street Analyst Weigh In

CNM has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft decreased their price target on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Barclays decreased their price target on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $63.00 price target on shares of Core & Main in a research note on Friday, January 9th. Finally, Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and a consensus 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.