Core & Main, Inc. $CNM Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in Core & Main, Inc. (NYSE:CNM) by 23.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 328,366 shares of the company’s stock after acquiring an additional 62,553 shares during the period. Thrivent Financial for Lutherans owned approximately 0.17% of Core & Main worth $17,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNM. Cubist Systematic Strategies LLC boosted its stake in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Core & Main in the 1st quarter valued at approximately $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Core & Main by 36.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock worth $1,719,000 after acquiring an additional 9,534 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after purchasing an additional 54,854 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Core & Main by 145.4% during 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 during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Insider Activity at Core & Main

In related news, Director James D. Hope acquired 1,972 shares of Core & Main stock in a transaction on Tuesday, April 7th. The stock was purchased at an average cost of $50.70 per share, with a total value of $99,980.40. Following the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.54, for a total value of $262,700.00. Following the sale, the chief financial officer owned 12,500 shares of the company’s stock, valued at $656,750. This trade represents a 28.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.51% of the company’s stock.

Core & Main Stock Performance

Shares of CNM opened at $46.18 on Tuesday. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. Core & Main, Inc. has a 52-week low of $43.96 and a 52-week high of $67.18. The company has a quick ratio of 1.51, a current ratio of 2.63 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average price of $49.57 and a 200 day moving average price of $52.07.

Analysts Set New Price Targets

Several research firms have recently commented on CNM. Deutsche Bank Aktiengesellschaft lowered their price target on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Barclays decreased their target price on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Finally, Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.64.

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.