Cullen Capital Management LLC Acquires New Shares in Core & Main, Inc. $CNM

Cullen Capital Management LLC bought a new stake in Core & Main, Inc. (NYSE:CNM) in the second quarter, HoldingsChannel reports. The fund bought 13,330 shares of the company’s stock, valued at approximately $643,000.

Several other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares during the period. TD Waterhouse Canada Inc. bought a new position in Core & Main during the 4th quarter worth about $26,000. Cubist Systematic Strategies LLC raised its stake in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the period. Quarry LP acquired a new stake in shares of Core & Main in the 4th quarter valued at about $38,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Core & Main in the fourth quarter valued at about $44,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Price Performance

Shares of NYSE:CNM opened at $44.16 on Wednesday. Core & Main, Inc. has a one year low of $41.88 and a one 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 company has a market cap of $8.54 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 1.53 and a beta of 0.92. The firm has a 50 day simple moving average of $45.57 and a 200 day simple moving average of $49.07.

Insider Buying and Selling at Core & Main

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

Analyst Ratings Changes

Several equities research analysts have commented on CNM shares. Citigroup cut their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. William Blair assumed coverage on shares of Core & Main in a research note on Thursday, July 23rd. They set a “market perform” rating for the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a research report on Thursday, June 11th. Finally, Wall Street Zen lowered shares of Core & Main from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.70.

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.