Swiss National Bank Raises Stock Position in Core & Main, Inc. (NYSE:CNM)

Swiss National Bank boosted its holdings in Core & Main, Inc. (NYSE:CNM) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 378,900 shares of the company’s stock after buying an additional 2,400 shares during the period. Swiss National Bank owned 0.19% of Core & Main worth $19,290,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CNM. Avior Wealth Management LLC grew its position in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after purchasing an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Core & Main during the third quarter valued at about $49,000. UMB Bank n.a. grew its position in shares of Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after purchasing an additional 684 shares in the last quarter. Blue Trust Inc. grew its position in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after purchasing an additional 830 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Core & Main during the fourth quarter valued at about $78,000. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 0.1 %

Shares of NYSE CNM opened at $47.78 on Wednesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The company has a market cap of $9.49 billion, a P/E ratio of 22.43, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The firm has a 50-day simple moving average of $52.47 and a two-hundred day simple moving average of $48.48.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CNM. Citigroup raised their price objective on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their price objective on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed 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. Barclays increased 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, Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Insiders Place Their Bets

In related news, President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the completion of the sale, the president now owns 16,010 shares in the company, valued at approximately $808,505. The trade was a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction that occurred on 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 owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock valued at $9,383,685 over the last 90 days. 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.