United Services Automobile Association Purchases 907 Shares of Core & Main, Inc. (NYSE:CNM)

United Services Automobile Association raised its position in Core & Main, Inc. (NYSE:CNM) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,332 shares of the company’s stock after acquiring an additional 907 shares during the quarter. United Services Automobile Association’s holdings in Core & Main were worth $628,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Intech Investment Management LLC bought a new stake in Core & Main during the third quarter valued at approximately $541,000. Cerity Partners LLC grew its position in shares of Core & Main by 53.9% during the 3rd quarter. Cerity Partners LLC now owns 31,728 shares of the company’s stock valued at $1,409,000 after acquiring an additional 11,118 shares during the period. Swedbank AB increased its stake in shares of Core & Main by 8.2% in the 3rd quarter. Swedbank AB now owns 1,782,100 shares of the company’s stock worth $79,125,000 after purchasing an additional 135,000 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in Core & Main by 11.8% in the 3rd quarter. Summit Trail Advisors LLC now owns 8,923 shares of the company’s stock worth $396,000 after purchasing an additional 945 shares during the period. Finally, Douglass Winthrop Advisors LLC lifted its position in Core & Main by 23.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 70,272 shares of the company’s stock valued at $3,120,000 after purchasing an additional 13,263 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CNM has been the subject of a number of analyst reports. 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 research report on Wednesday, December 4th. Truist Financial raised their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on shares of Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Barclays raised their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Loop Capital upped their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $57.60.

Core & Main Stock Performance

Shares of NYSE CNM opened at $49.55 on Tuesday. The company has a market cap of $9.84 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The firm’s fifty day moving average is $52.28 and its two-hundred day moving average is $48.64.

Insider Activity

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $387,106.83. This represents a 86.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John R. Schaller sold 60,452 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares of the company’s stock, valued at $905,101.86. This represents a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock worth $9,383,685 over the last 90 days. Corporate insiders own 3.49% of the company’s stock.

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.