Aigen Investment Management LP Acquires New Stake in Core & Main, Inc. (NYSE:CNM)

Aigen Investment Management LP bought a new position in Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,360 shares of the company’s stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in shares of Core & Main by 92.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 17,761 shares of the company’s stock worth $789,000 after purchasing an additional 8,547 shares during the last quarter. Impax Asset Management Group plc grew its stake in Core & Main by 373.0% in the 3rd quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock worth $89,416,000 after buying an additional 1,588,117 shares in the last quarter. Meritage Portfolio Management increased its holdings in shares of Core & Main by 11.5% in the 3rd quarter. Meritage Portfolio Management now owns 12,579 shares of the company’s stock worth $559,000 after buying an additional 1,296 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Core & Main during the 3rd quarter worth $26,000. Finally, Versor Investments LP grew its position in Core & Main by 136.8% in the third quarter. Versor Investments LP now owns 25,810 shares of the company’s stock worth $1,146,000 after acquiring an additional 14,910 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Up 0.4 %

Shares of Core & Main stock opened at $47.89 on Monday. The company’s 50 day moving average price is $53.03 and its 200-day moving average price is $48.65. 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 stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.61 and a beta of 1.05.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNM. Wells Fargo & Company raised their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Robert W. Baird raised their price objective on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup upped their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Barclays lifted their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Truist Financial boosted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” 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, Core & Main has a consensus rating of “Moderate Buy” and an average target price of $57.60.

Insiders Place Their Bets

In other news, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the sale, the president now directly owns 16,010 shares in the company, valued at approximately $808,505. This represents a 43.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was 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. The trade was a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 162,426 shares of company stock valued at $8,359,825 in the last quarter. Insiders own 3.49% of the company’s stock.

Core & Main 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.