Versor Investments LP Acquires New Position in Core & Main, Inc. $CNM

Versor Investments LP acquired a new stake in shares of Core & Main, Inc. (NYSE:CNM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,073 shares of the company’s stock, valued at approximately $887,000.

A number of other institutional investors have also modified their holdings of the business. Bryn Mawr Trust Advisors LLC bought a new stake in shares of Core & Main during the 4th quarter valued at about $337,000. Sequoia Financial Advisors LLC bought a new stake in shares of Core & Main during the 4th quarter valued at about $202,000. Enhancing Capital LLC grew its position in shares of Core & Main by 11.2% during the 4th quarter. Enhancing Capital LLC now owns 36,327 shares of the company’s stock valued at $1,888,000 after buying an additional 3,660 shares during the last quarter. Lmcg Investments LLC grew its position in shares of Core & Main by 5.5% during the 4th quarter. Lmcg Investments LLC now owns 109,747 shares of the company’s stock valued at $5,704,000 after buying an additional 5,734 shares during the last quarter. Finally, Truist Financial Corp grew its position in shares of Core & Main by 0.8% during the 4th quarter. Truist Financial Corp now owns 917,412 shares of the company’s stock valued at $47,678,000 after buying an additional 7,359 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

NYSE CNM opened at $47.42 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.77 and a beta of 0.93. The company’s fifty day moving average is $50.10 and its two-hundred day moving average is $52.26. Core & Main, Inc. has a 52-week low of $43.96 and a 52-week high of $67.18.

Analyst Upgrades and Downgrades

CNM has been the subject of several recent analyst reports. Zacks Research cut shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Barclays cut their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Wells Fargo & Company increased 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, January 14th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.64.

Insider Buying and Selling at Core & Main

In other Core & Main news, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the sale, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope purchased 1,972 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was bought at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director directly owned 6,939 shares in the company, valued at approximately $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.51% of the company’s stock.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.