ArrowMark Colorado Holdings LLC Has $25.36 Million Stock Holdings in Core & Main, Inc. $CNM

ArrowMark Colorado Holdings LLC reduced its position in Core & Main, Inc. (NYSE:CNM) by 36.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 471,166 shares of the company’s stock after selling 275,757 shares during the period. ArrowMark Colorado Holdings LLC owned 0.24% of Core & Main worth $25,363,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNM. Modern Wealth Management LLC boosted its holdings in Core & Main by 5.8% in the third quarter. Modern Wealth Management LLC now owns 3,970 shares of the company’s stock valued at $214,000 after acquiring an additional 218 shares during the last quarter. Johnson Investment Counsel Inc. increased its position in Core & Main by 0.6% in the third quarter. Johnson Investment Counsel Inc. now owns 43,070 shares of the company’s stock worth $2,318,000 after purchasing an additional 244 shares during the period. Wedmont Private Capital raised its holdings in Core & Main by 5.6% during the 3rd quarter. Wedmont Private Capital now owns 4,733 shares of the company’s stock worth $241,000 after purchasing an additional 251 shares during the last quarter. EverSource Wealth Advisors LLC raised 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. Finally, ProShare Advisors LLC lifted its position in Core & Main by 3.6% during the 2nd quarter. ProShare Advisors LLC now owns 8,398 shares of the company’s stock valued at $507,000 after purchasing an additional 295 shares during the period. Institutional investors own 94.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Core & Main from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Robert W. Baird boosted their price target on shares of Core & Main from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. increased their price objective on shares of Core & Main from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Wells Fargo & Company raised their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Core & Main from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Core & Main Price Performance

Shares of CNM opened at $48.05 on Friday. The stock has a market cap of $9.39 billion, a P/E ratio of 21.17, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. Core & Main, Inc. has a 1 year low of $43.17 and a 1 year high of $67.18. The stock’s 50-day moving average price is $55.28 and its two-hundred day moving average price is $53.51. The company has a current ratio of 2.26, a quick ratio of 1.35 and a debt-to-equity ratio of 1.04.

Core & Main declared that its board has authorized a stock repurchase program on Tuesday, December 9th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.