Enhancing Capital LLC Invests $1.61 Million in Core & Main, Inc. (NYSE:CNM)

Enhancing Capital LLC acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) during the 4th quarter, Holdings Channel reports. The firm acquired 31,650 shares of the company’s stock, valued at approximately $1,611,000. Core & Main accounts for about 1.3% of Enhancing Capital LLC’s investment portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Xponance Inc. boosted its holdings in shares of Core & Main by 3.9% during the 4th quarter. Xponance Inc. now owns 33,160 shares of the company’s stock worth $1,688,000 after buying an additional 1,249 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Core & Main by 4.2% during the 4th quarter. Advisors Asset Management Inc. now owns 56,424 shares of the company’s stock worth $2,873,000 after buying an additional 2,284 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Core & Main by 16.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 126,657 shares of the company’s stock worth $6,448,000 after buying an additional 17,432 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Core & Main by 9.2% during the 4th quarter. Corient Private Wealth LLC now owns 7,117 shares of the company’s stock worth $362,000 after buying an additional 599 shares during the period. Finally, Gitterman Wealth Management LLC boosted its holdings in shares of Core & Main by 16.0% during the 4th quarter. Gitterman Wealth Management LLC now owns 12,097 shares of the company’s stock worth $616,000 after buying an additional 1,673 shares during the period. Institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Loop Capital lifted their target price on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird boosted their price objective on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Truist Financial boosted their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.60.

Insider Transactions at Core & Main

In related news, President Bradford A. Cowles sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at $808,505. This represents a 43.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John R. Schaller sold 60,452 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares of the company’s stock, valued at approximately $905,101.86. This represents a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,294 shares of company stock valued at $9,383,685. Company insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

Shares of Core & Main stock opened at $47.84 on Tuesday. The company has a 50 day moving average of $52.53 and a 200-day moving average of $48.48. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The company has a market cap of $9.50 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.