Sei Investments Co. Sells 27,446 Shares of Core & Main, Inc. $CNM

Sei Investments Co. trimmed its stake in Core & Main, Inc. (NYSE:CNM) by 20.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 108,866 shares of the company’s stock after selling 27,446 shares during the quarter. Sei Investments Co.’s holdings in Core & Main were worth $5,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. bought a new position in shares of Core & Main during the 4th quarter worth approximately $26,000. EverSource Wealth Advisors LLC lifted its holdings in 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 last quarter. Whittier Trust Co. acquired a new stake in Core & Main in the 4th quarter worth about $28,000. Cubist Systematic Strategies LLC raised its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after acquiring an additional 524 shares in the last quarter. Finally, Quarry LP acquired a new position in Core & Main in the 4th quarter valued at $38,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 1.4%

Shares of Core & Main stock opened at $46.37 on Wednesday. The firm’s 50 day moving average is $46.93 and its 200 day moving average is $50.23. The firm has a market capitalization of $8.97 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. Core & Main, Inc. has a 1 year low of $41.88 and a 1 year high of $67.18. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00.

Insiders Place Their Bets

In related news, Director James D. Hope bought 2,067 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were purchased at an average price of $46.01 per share, with a total value of $95,102.67. Following the completion of the purchase, the director owned 11,805 shares in the company, valued at $543,148.05. This represents a 21.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CNM shares. Citigroup reduced their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. Wall Street Zen upgraded Core & Main from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Finally, William Blair began coverage on Core & Main in a report on Thursday, July 23rd. They set a “market perform” rating for the company. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.70.

Core & Main 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.