Asset Management One Co. Ltd. Cuts Stake in Core & Main, Inc. $CNM

Asset Management One Co. Ltd. reduced its stake in shares of Core & Main, Inc. (NYSE:CNM) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,048 shares of the company’s stock after selling 12,377 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Core & Main were worth $3,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Wolverine Asset Management LLC purchased a new stake in Core & Main during the 3rd quarter valued at approximately $1,130,000. Jennison Associates LLC grew its holdings in Core & Main by 41.7% during the 3rd quarter. Jennison Associates LLC now owns 2,087,166 shares of the company’s stock valued at $112,352,000 after buying an additional 614,595 shares in the last quarter. Pembroke Management LTD grew its holdings in Core & Main by 26.6% during the 3rd quarter. Pembroke Management LTD now owns 909,216 shares of the company’s stock valued at $48,943,000 after buying an additional 190,879 shares in the last quarter. Procyon Advisors LLC purchased a new position in shares of Core & Main in the fourth quarter valued at $1,779,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Core & Main by 881.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 52,963 shares of the company’s stock valued at $2,752,000 after purchasing an additional 47,569 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Trading Up 0.0%

CNM stock opened at $48.97 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63. The firm has a fifty day moving average price of $51.59 and a 200 day moving average price of $52.42. The firm has a market cap of $9.53 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.77 and a beta of 1.00. Core & Main, Inc. has a fifty-two week low of $43.96 and a fifty-two week high of $67.18.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Wells Fargo & Company raised their target price on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Barclays cut their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. 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 report on Thursday, January 8th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $63.00 target price on shares of Core & Main in a report on Friday, January 9th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Core & Main presently has an average rating of “Moderate Buy” and a consensus target price of $61.64.

Insider Buying and Selling at Core & Main

In other Core & Main news, CFO Robyn L. Bradbury sold 5,000 shares of Core & Main stock in a transaction on Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the transaction, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at $656,750. The trade was a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope acquired 1,972 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were purchased at an average cost of $50.70 per share, with a total value of $99,980.40. Following the completion of the purchase, the director directly owned 6,939 shares of the company’s stock, valued at $351,807.30. This trade represents a 39.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.53% of the stock is owned by insiders.

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.