Caxton Associates LLP Acquires Shares of 59,434 Core & Main, Inc. $CNM

Caxton Associates LLP acquired a new stake in Core & Main, Inc. (NYSE:CNM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 59,434 shares of the company’s stock, valued at approximately $2,936,000.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup cut their target price on 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 reiterated a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a research note on Thursday, June 11th. Wall Street Zen upgraded shares of Core & Main from a “hold” rating to a “buy” rating in a report on Saturday. Finally, William Blair started coverage on shares of Core & Main in a research report on Thursday. They issued a “market perform” rating on the stock. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.73.

Core & Main Trading Up 1.3%

NYSE:CNM opened at $43.69 on Friday. The company has a market capitalization of $8.45 billion, a PE ratio of 18.51, a P/E/G ratio of 1.50 and a beta of 0.91. Core & Main, Inc. has a 52-week low of $42.50 and a 52-week high of $67.18. The stock’s 50 day moving average price is $47.31 and its 200 day moving average price is $50.83. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James D. Hope bought 2,067 shares of the stock in a transaction dated Monday, July 6th. The shares were acquired 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 in the company, valued at approximately $543,148.05. The trade was a 21.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.51% of the company’s stock.

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.