Swedbank AB Sells 231,200 Shares of Core & Main, Inc. $CNM

Swedbank AB decreased its stake in Core & Main, Inc. (NYSE:CNM) by 21.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 853,000 shares of the company’s stock after selling 231,200 shares during the quarter. Swedbank AB’s holdings in Core & Main were worth $42,138,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CNM. TD Waterhouse Canada Inc. acquired a new stake in shares of Core & Main during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC increased its holdings in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares in the last quarter. Whittier Trust Co. bought a new position in Core & Main in the fourth quarter valued at about $28,000. Cubist Systematic Strategies LLC raised its position in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Core & Main during the fourth quarter valued at about $38,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup reduced their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. Finally, Barclays decreased their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.73.

Core & Main Stock Up 0.1%

Shares of Core & Main stock opened at $45.78 on Thursday. Core & Main, Inc. has a one year low of $43.96 and a one year high of $67.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The stock’s 50-day moving average is $48.34 and its 200 day moving average is $51.56. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.59 and a beta of 0.91.

Insider Activity at Core & Main

In related news, Director James D. Hope acquired 2,067 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were bought at an average price of $46.01 per share, with a total value of $95,102.67. Following the transaction, the director directly owned 11,805 shares of the company’s stock, valued at $543,148.05. This trade represents a 21.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at $656,750. This trade represents a 28.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.51% of the stock is currently owned by insiders.

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.