Core & Main, Inc. $CNM Shares Sold by Algert Global LLC

Algert Global LLC cut its holdings in Core & Main, Inc. (NYSE:CNM) by 30.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,288 shares of the company’s stock after selling 56,471 shares during the quarter. Algert Global LLC owned 0.06% of Core & Main worth $6,852,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. 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 acquiring an additional 269 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Core & Main by 262.0% during the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares in the last quarter. Rothschild Investment LLC grew its position in shares of Core & Main by 5,013.3% in the third quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock valued at $41,000 after purchasing an additional 752 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Core & Main by 47.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock valued at $52,000 after purchasing an additional 311 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Core & Main by 108.5% during the third quarter. Farther Finance Advisors LLC now owns 1,026 shares of the company’s stock worth $55,000 after purchasing an additional 534 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Stock Performance

CNM opened at $47.89 on Tuesday. Core & Main, Inc. has a twelve month low of $43.17 and a twelve month high of $67.18. The firm has a market capitalization of $9.36 billion, a PE ratio of 21.10, a PEG ratio of 1.77 and a beta of 0.98. The company has a current ratio of 2.26, a quick ratio of 1.35 and a debt-to-equity ratio of 1.04. The firm’s 50-day moving average price is $55.13 and its 200 day moving average price is $53.30.

Core & Main declared that its Board of Directors has authorized a stock buyback program on Tuesday, December 9th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

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.