Royal London Asset Management Ltd. Boosts Stake in Core & Main, Inc. (NYSE:CNM)

Royal London Asset Management Ltd. increased its stake in Core & Main, Inc. (NYSE:CNM) by 1.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,810,739 shares of the company’s stock after acquiring an additional 48,833 shares during the period. Royal London Asset Management Ltd. owned about 1.92% of Core & Main worth $194,005,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its stake in Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after purchasing an additional 271 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Core & Main in the 3rd quarter worth approximately $49,000. Blue Trust Inc. boosted its stake in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after buying an additional 830 shares in the last quarter. Finally, R Squared Ltd bought a new position in Core & Main during the fourth quarter valued at approximately $78,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 2.5 %

NYSE CNM opened at $49.05 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The stock has a market cap of $9.74 billion, a P/E ratio of 23.03, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The stock has a 50 day simple moving average of $52.43 and a two-hundred day simple moving average of $48.48.

Insider Buying and Selling

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the sale, the general counsel now directly owns 7,667 shares in the company, valued at $423,908.43. This trade represents a 20.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Bradford A. Cowles sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the transaction, the president now owns 16,010 shares in the company, valued at $808,505. This trade represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,294 shares of company stock valued at $9,383,685 over the last quarter. 3.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CNM shares. Barclays upped their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial upped their price target on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Robert W. Baird increased their target price on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. One equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Core & Main Company Profile

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.