Chesapeake Capital Corp IL Purchases New Holdings in Core & Main, Inc. (NYSE:CNM)

Chesapeake Capital Corp IL purchased a new stake in Core & Main, Inc. (NYSE:CNM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,383 shares of the company’s stock, valued at approximately $223,000.

Other institutional investors have also made changes to their positions in the company. Avior Wealth Management LLC boosted its stake in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after buying an additional 271 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Core & Main in the third quarter valued at approximately $49,000. UMB Bank n.a. boosted its stake in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after buying an additional 684 shares during the period. Blue Trust Inc. boosted its stake in shares of Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after buying an additional 830 shares during the period. Finally, R Squared Ltd bought a new stake in shares of Core & Main in the fourth quarter valued at approximately $78,000. 94.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on CNM shares. The Goldman Sachs Group upped their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Wells Fargo & Company upped their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Truist Financial upped their target price on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Loop Capital upped their target price on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird upped their target price on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Insider Transactions at Core & Main

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

Core & Main Stock Down 0.1 %

Shares of NYSE:CNM opened at $47.78 on Wednesday. The company has a fifty day moving average of $52.47 and a 200-day moving average of $48.48. The company has a market capitalization 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. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15.

About Core & Main

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.