Quantinno Capital Management LP Grows Position in Core & Main, Inc. $CNM

Quantinno Capital Management LP grew its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 70.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,771 shares of the company’s stock after purchasing an additional 34,090 shares during the quarter. Quantinno Capital Management LP’s holdings in Core & Main were worth $4,089,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Morgan Stanley lifted its stake in shares of Core & Main by 8.3% during the 4th quarter. Morgan Stanley now owns 14,586,859 shares of the company’s stock valued at $758,079,000 after buying an additional 1,118,145 shares in the last quarter. Capital World Investors boosted its holdings in Core & Main by 5.8% in the 4th quarter. Capital World Investors now owns 6,292,740 shares of the company’s stock worth $327,034,000 after buying an additional 344,606 shares during the period. First Trust Advisors LP grew its stake in Core & Main by 15.3% in the 1st quarter. First Trust Advisors LP now owns 6,130,840 shares of the company’s stock valued at $302,863,000 after buying an additional 812,770 shares in the last quarter. State Street Corp grew its stake in Core & Main by 1.0% in the 4th quarter. State Street Corp now owns 5,733,516 shares of the company’s stock valued at $297,971,000 after buying an additional 54,562 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its holdings in Core & Main by 12.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 5,688,595 shares of the company’s stock valued at $295,636,000 after acquiring an additional 632,077 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

CNM stock opened at $46.56 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. Core & Main, Inc. has a one year low of $41.88 and a one year high of $67.18. The stock has a market cap of $9.01 billion, a PE ratio of 19.73, a P/E/G ratio of 1.57 and a beta of 0.92. The firm has a 50 day simple moving average of $46.75 and a two-hundred day simple moving average of $50.03.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director James D. Hope bought 2,067 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the transaction, the director owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. The trade was a 21.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

About Core & Main

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.