Algebris UK Ltd Takes Position in Core & Main, Inc. (NYSE:CNM)

Algebris UK Ltd acquired a new position in shares of Core & Main, Inc. (NYSE:CNM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 16,933 shares of the company’s stock, valued at approximately $833,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Chesapeake Capital Corp IL bought a new stake in Core & Main during the fourth quarter valued at about $223,000. Enhancing Capital LLC acquired a new position in shares of Core & Main during the 4th quarter worth about $1,611,000. Xponance Inc. boosted its stake in Core & Main by 3.9% during the 4th quarter. Xponance Inc. now owns 33,160 shares of the company’s stock valued at $1,688,000 after purchasing an additional 1,249 shares during the period. Advisors Asset Management Inc. boosted its stake in Core & Main by 4.2% during the 4th quarter. Advisors Asset Management Inc. now owns 56,424 shares of the company’s stock valued at $2,873,000 after purchasing an additional 2,284 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Core & Main by 16.0% in the 4th quarter. Thrivent Financial for Lutherans now owns 126,657 shares of the company’s stock valued at $6,448,000 after buying an additional 17,432 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the completion of the sale, the general counsel now directly owns 7,667 shares in the company, valued at approximately $387,106.83. This trade represents a 86.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the completion of the transaction, the executive vice president now directly owns 16,452 shares of the company’s stock, valued at $770,282.64. This represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,294 shares of company stock valued at $9,383,685 in the last three months. 3.49% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Robert W. Baird increased their price target 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. Barclays boosted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Truist Financial upped their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Loop Capital lifted their target price on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Core & Main Price Performance

NYSE:CNM opened at $47.78 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The firm has a market cap of $9.49 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company’s 50-day moving average price is $52.47 and its two-hundred day moving average price is $48.48.

Core & Main 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.