Core & Main, Inc. (NYSE:CNM) Stock Position Lowered by Natixis Advisors LLC

Natixis Advisors LLC lessened its position in Core & Main, Inc. (NYSE:CNM) by 41.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,622 shares of the company’s stock after selling 36,629 shares during the quarter. Natixis Advisors LLC’s holdings in Core & Main were worth $2,679,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. FMR LLC increased its stake in Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after buying an additional 1,903,280 shares during the period. State Street Corp increased its stake in Core & Main by 9.7% in the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company’s stock valued at $245,177,000 after buying an additional 489,224 shares during the period. Royal London Asset Management Ltd. increased its stake in Core & Main by 39.9% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after buying an additional 1,073,451 shares during the period. Amundi increased its stake in Core & Main by 5.7% in the 4th quarter. Amundi now owns 3,659,261 shares of the company’s stock valued at $186,722,000 after buying an additional 196,828 shares during the period. Finally, Impax Asset Management Group plc increased its stake in Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock valued at $174,661,000 after buying an additional 1,416,907 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Stock Performance

NYSE:CNM opened at $48.19 on Monday. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The firm’s fifty day simple moving average is $52.32 and its 200 day simple moving average is $48.56. 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 firm has a market capitalization of $9.57 billion, a PE ratio of 22.62, a PEG ratio of 2.61 and a beta of 1.05.

Insider Activity at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the sale, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. This represents a 20.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John R. Schaller sold 21,868 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the completion of the sale, the executive vice president now directly owns 16,452 shares of the company’s stock, valued at approximately $770,282.64. This trade represents a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 184,294 shares of company stock worth $9,383,685. 3.49% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on CNM shares. 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 note on Wednesday, December 4th. Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird increased their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Finally, Barclays increased their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Core & Main has a consensus rating of “Moderate Buy” and an average target price of $57.60.

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.