DNB Asset Management AS Has $8.34 Million Holdings in Core & Main, Inc. $CNM

DNB Asset Management AS boosted its position in Core & Main, Inc. (NYSE:CNM) by 516.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 160,478 shares of the company’s stock after acquiring an additional 134,432 shares during the quarter. DNB Asset Management AS’s holdings in Core & Main were worth $8,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNM. TD Waterhouse Canada Inc. acquired a new position in Core & Main in the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC grew its stake in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares during the last quarter. Whittier Trust Co. acquired a new position in Core & Main in the 4th quarter valued at $28,000. Cubist Systematic Strategies LLC grew its stake 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 buying an additional 524 shares during the last quarter. Finally, Rothschild Investment LLC grew its stake in Core & Main by 5,013.3% in 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 during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNM has been the topic of a number of research analyst reports. Zacks Research lowered shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Barclays decreased their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $61.64.

Insider Buying and Selling at Core & Main

In related news, Director James D. Hope purchased 1,972 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $50.70 per share, for a total transaction of $99,980.40. Following the transaction, the director directly owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. This trade represents a 39.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s 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 completion of the sale, the chief financial officer owned 12,500 shares in the company, valued at $656,750. This represents a 28.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.51% of the company’s stock.

Core & Main Stock Performance

NYSE CNM opened at $46.18 on Tuesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. The firm has a market capitalization of $8.99 billion, a price-to-earnings ratio of 19.99, a P/E/G ratio of 1.69 and a beta of 0.93. The company’s fifty day moving average is $49.57 and its two-hundred day moving average is $52.07. Core & Main, Inc. has a 52-week low of $43.96 and a 52-week high of $67.18.

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.