Foster & Motley Inc. Takes Position in Core & Main, Inc. $CNM

Foster & Motley Inc. acquired a new position in Core & Main, Inc. (NYSE:CNM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 26,576 shares of the company’s stock, valued at approximately $1,282,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. acquired a new position in Core & Main during the 4th quarter valued at about $26,000. EverSource Wealth Advisors LLC boosted its holdings in 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 acquiring an additional 269 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in 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 acquiring an additional 524 shares in the last quarter. Quarry LP purchased a new stake in shares of Core & Main during the fourth quarter worth about $38,000. Finally, Root Financial Partners LLC grew its stake in shares of Core & Main by 111.6% during the first quarter. Root Financial Partners LLC now owns 895 shares of the company’s stock worth $44,000 after acquiring an additional 472 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CNM shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a research report on Thursday, June 11th. Wall Street Zen downgraded shares of Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup cut 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. Finally, William Blair started coverage on shares of Core & Main in a report on Thursday, July 23rd. They issued a “market perform” rating for the company. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.70.

Core & Main Trading Down 0.3%

Shares of Core & Main stock opened at $45.33 on Thursday. Core & Main, Inc. has a 1 year low of $41.88 and a 1 year high of $67.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The stock has a market cap of $8.77 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The firm has a fifty day moving average price of $45.88 and a 200 day moving average price of $49.36.

Insider Activity at Core & Main

In related news, Director James D. Hope bought 2,067 shares of the stock in a transaction dated Monday, July 6th. The shares were purchased at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the purchase, the director directly owned 11,805 shares of the company’s stock, valued at $543,148.05. This represents a 21.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.51% of the stock is owned by 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.