Capital World Investors Purchases 344,606 Shares of Core & Main, Inc. $CNM

Capital World Investors grew its stake in Core & Main, Inc. (NYSE:CNM) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,292,740 shares of the company’s stock after buying an additional 344,606 shares during the quarter. Capital World Investors’ holdings in Core & Main were worth $327,034,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. purchased a new position in shares of Core & Main in the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in shares of 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 acquiring an additional 269 shares in the last quarter. Whittier Trust Co. bought a new position in shares of Core & Main in the 4th quarter worth $28,000. Cubist Systematic Strategies LLC raised its position in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares in the last quarter. Finally, Rothschild Investment LLC increased its position in Core & Main by 5,013.3% during the 3rd quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock valued at $41,000 after buying an additional 752 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays dropped their price target 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. Zacks Research downgraded Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.64.

Insider Buying and Selling

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

Core & Main Stock Up 0.5%

CNM opened at $52.22 on Tuesday. The business’s 50-day simple moving average is $49.71 and its 200-day simple moving average is $51.99. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63. Core & Main, Inc. has a one year low of $43.96 and a one year high of $67.18. The stock has a market capitalization of $10.16 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91.

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.