Geode Capital Management LLC Has $189.47 Million Stake in Core & Main, Inc. $CNM

Geode Capital Management LLC grew its stake in Core & Main, Inc. (NYSE:CNM) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,645,108 shares of the company’s stock after purchasing an additional 84,657 shares during the period. Geode Capital Management LLC owned about 1.86% of Core & Main worth $189,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNM. Cubist Systematic Strategies LLC grew its position in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after purchasing an additional 524 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Core & Main in the 1st quarter worth $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Core & Main by 36.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock worth $1,719,000 after purchasing an additional 9,534 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Core & Main by 23.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after purchasing an additional 54,854 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 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 Core & Main news, Director James D. Hope acquired 1,972 shares of Core & Main stock in a transaction dated Tuesday, April 7th. The stock was bought at an average cost of $50.70 per share, with a total value of $99,980.40. Following the acquisition, the director owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the transaction, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at $656,750. The trade was a 28.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CNM has been the topic of several research analyst reports. Zacks Research lowered shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Barclays decreased their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.64.

Core & Main Price Performance

NYSE:CNM opened at $52.18 on Thursday. The company has a 50-day moving average of $49.59 and a 200-day moving average of $51.86. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.81 and a beta of 0.91. Core & Main, Inc. has a 52 week low of $43.96 and a 52 week high of $67.18. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63.

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.