Core & Main, Inc. $CNM Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. increased its stake in shares of Core & Main, Inc. (NYSE:CNM) by 2.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,663,161 shares of the company’s stock after acquiring an additional 72,712 shares during the period. Bessemer Group Inc. owned approximately 1.37% of Core & Main worth $131,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Deutsche Bank AG increased its stake in shares of Core & Main by 1.1% in the fourth quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock worth $928,000 after buying an additional 190 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Core & Main by 13.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock worth $109,000 after acquiring an additional 237 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in Core & Main by 4.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock worth $283,000 after acquiring an additional 261 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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. Finally, Steph & Co. raised its stake in shares of Core & Main by 36.6% in the 4th quarter. Steph & Co. now owns 1,037 shares of the company’s stock valued at $54,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CNM. Citigroup cut their price objective on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Deutsche Bank Aktiengesellschaft dropped their price target on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a report on Thursday, June 11th. Finally, Barclays dropped their target price on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Core & Main currently has an average rating of “Moderate Buy” and an average price target of $57.73.

Core & Main Stock Down 0.9%

CNM stock opened at $45.38 on Friday. Core & Main, Inc. has a 12 month low of $43.96 and a 12 month high of $67.18. The firm has a market cap of $8.78 billion, a PE ratio of 19.23, a P/E/G ratio of 1.59 and a beta of 0.91. The firm has a 50 day simple moving average of $47.73 and a 200 day simple moving average of $51.15. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James D. Hope bought 2,067 shares of Core & Main stock in a transaction on Monday, July 6th. The stock was purchased at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the purchase, the director directly owned 11,805 shares of the company’s stock, valued at $543,148.05. The trade was a 21.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is owned by company insiders.

About Core & Main

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.