Swedbank AB Sells 114,800 Shares of Core & Main, Inc. $CNM

Swedbank AB reduced its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,084,200 shares of the company’s stock after selling 114,800 shares during the quarter. Swedbank AB’s holdings in Core & Main were worth $56,346,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. bought a new stake in Core & Main during the fourth quarter worth $26,000. EverSource Wealth Advisors LLC increased its position in Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares during the last quarter. Whittier Trust Co. purchased a new stake in Core & Main in the fourth quarter worth $28,000. Cubist Systematic Strategies LLC increased 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 worth $35,000 after buying an additional 524 shares during the last quarter. Finally, Rothschild Investment LLC increased its position in Core & Main by 5,013.3% in the third quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock worth $41,000 after buying an additional 752 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Price Performance

NYSE:CNM opened at $47.27 on Monday. The firm has a market capitalization of $9.20 billion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 1.71 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 stock has a fifty day moving average of $49.34 and a 200 day moving average of $51.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63.

Insider Activity

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

Analyst Ratings Changes

A number of research firms have issued reports on CNM. Deutsche Bank Aktiengesellschaft decreased their target price 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 for the company in a research report on Wednesday, March 25th. Finally, Zacks Research downgraded Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus 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.