Edgestream Partners L.P. Acquires New Position in Core & Main, Inc. (NYSE:CNM)

Edgestream Partners L.P. acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 14,157 shares of the company’s stock, valued at approximately $721,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNM. Impax Asset Management Group plc lifted its holdings in Core & Main by 373.0% during the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock valued at $89,416,000 after buying an additional 1,588,117 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Core & Main in the 3rd quarter valued at about $26,000. KBC Group NV raised its holdings in shares of Core & Main by 7.9% in the 3rd quarter. KBC Group NV now owns 1,358,955 shares of the company’s stock valued at $60,338,000 after purchasing an additional 98,992 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Core & Main by 10.4% in the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 8,086 shares of the company’s stock valued at $359,000 after purchasing an additional 761 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Core & Main by 10.8% in the 3rd quarter. Empowered Funds LLC now owns 100,681 shares of the company’s stock valued at $4,470,000 after purchasing an additional 9,848 shares in the last quarter. Institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Truist Financial boosted their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Barclays boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Core & Main Stock Up 2.0 %

NYSE:CNM opened at $47.47 on Thursday. The company has a market cap of $9.43 billion, a PE ratio of 22.29, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company’s 50 day moving average is $52.80 and its two-hundred day moving average is $48.56.

Insiders Place Their Bets

In other Core & Main news, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now owns 16,452 shares of the company’s stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares in the company, valued at approximately $387,106.83. This represents a 86.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 184,294 shares of company stock valued at $9,383,685. Insiders own 3.49% of the company’s stock.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.