BLI Banque de Luxembourg Investments Decreases Holdings in Core & Main, Inc. $CNM

BLI Banque de Luxembourg Investments trimmed its holdings in Core & Main, Inc. (NYSE:CNM) by 19.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 224,400 shares of the company’s stock after selling 55,300 shares during the period. BLI Banque de Luxembourg Investments’ holdings in Core & Main were worth $11,866,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CNM. TD Waterhouse Canada Inc. acquired a new stake in shares of Core & Main in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its position in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after buying an additional 269 shares during the last quarter. Whittier Trust Co. acquired a new stake in Core & Main during the fourth quarter worth about $28,000. Cubist Systematic Strategies LLC increased its position in Core & Main by 262.0% during the first 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. Finally, Rothschild Investment LLC increased its position in Core & Main by 5,013.3% during the third quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock worth $41,000 after purchasing an additional 752 shares during the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Price Performance

Shares of CNM opened at $52.22 on Tuesday. Core & Main, Inc. has a 1-year low of $43.96 and a 1-year high of $67.18. The stock has a market cap of $10.16 billion, a PE ratio of 22.60, a P/E/G ratio of 1.87 and a beta of 0.91. The firm has a 50-day simple moving average of $49.71 and a two-hundred day simple moving average of $51.99. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51.

Insider Activity at Core & Main

In other Core & Main news, Director James D. Hope acquired 1,972 shares of the stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average price of $50.70 per share, with a total value of $99,980.40. Following the completion of the purchase, the director owned 6,939 shares in the company, valued at $351,807.30. This trade represents a 39.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the completion of the transaction, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at approximately $656,750. The trade was a 28.57% decrease in their position. 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. Company insiders own 1.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CNM shares. Zacks Research cut shares of Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Barclays cut their price objective on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and an average price target of $61.64.

Core & Main Company 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.