VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Core & Main, Inc. (NYSE:CNM – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,250 shares of the company’s stock, valued at approximately $2,040,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in Core & Main by 294.9% during the third quarter. Capital World Investors now owns 5,948,134 shares of the company’s stock worth $320,188,000 after buying an additional 4,442,047 shares in the last quarter. First Trust Advisors LP boosted its holdings in Core & Main by 10.7% during the third quarter. First Trust Advisors LP now owns 3,835,835 shares of the company’s stock worth $206,483,000 after buying an additional 369,200 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in Core & Main by 10.8% during the fourth quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock worth $149,289,000 after buying an additional 279,373 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Core & Main by 0.9% during the third quarter. Handelsbanken Fonder AB now owns 2,850,232 shares of the company’s stock worth $153,428,000 after buying an additional 26,799 shares in the last quarter. Finally, Samlyn Capital LLC boosted its holdings in Core & Main by 5.9% during the third quarter. Samlyn Capital LLC now owns 2,660,811 shares of the company’s stock worth $143,231,000 after buying an additional 147,166 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
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 sale, the chief financial officer owned 12,500 shares of the company’s stock, valued at $656,750. This trade represents a 28.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 dated Tuesday, April 7th. The shares were bought at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the acquisition, the director owned 6,939 shares in the company, valued at approximately $351,807.30. This trade represents a 39.70% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.51% of the company’s stock.
Core & Main Trading Down 2.4%
Analyst Upgrades and Downgrades
CNM has been the subject of a number of recent analyst 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. Barclays decreased 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 note on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft decreased 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 note on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.64.
View Our Latest Stock Report on CNM
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.
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