Regency Capital Management Inc. DE increased its holdings in Core & Main, Inc. (NYSE:CNM – Free Report) by 57.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,675 shares of the company’s stock after buying an additional 10,455 shares during the quarter. Regency Capital Management Inc. DE’s holdings in Core & Main were worth $1,490,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Core & Main by 145.4% in 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 period. TD Waterhouse Canada Inc. acquired a new position in Core & Main in the 4th quarter worth about $26,000. Whittier Trust Co. acquired a new position in Core & Main in the 4th quarter worth about $28,000. Cubist Systematic Strategies LLC raised its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares during the period. Finally, Rothschild Investment LLC raised its holdings in Core & Main by 5,013.3% in the 3rd quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock worth $41,000 after purchasing an additional 752 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on CNM. Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Barclays reduced their price objective on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.64.
Core & Main Price Performance
Shares of Core & Main stock opened at $52.41 on Friday. The business has a 50 day simple moving average of $49.63 and a two-hundred day simple moving average of $51.89. Core & Main, Inc. has a 12 month low of $43.96 and a 12 month high of $67.18. The stock has a market capitalization of $10.20 billion, a P/E ratio of 22.69, a PEG ratio of 1.87 and a beta of 0.91. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51.
Insider Buying and Selling
In other Core & Main news, CFO Robyn L. Bradbury sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 12,500 shares of the company’s stock, valued at $656,750. This represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a legal 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 bought 1,972 shares of Core & Main stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average price of $50.70 per share, with a total value of $99,980.40. Following the completion of the transaction, the director directly owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.51% of the stock is owned by corporate insiders.
About Core & Main
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.
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