Swedbank AB Has $56.35 Million Stock Holdings in Core & Main, Inc. $CNM

Swedbank AB cut its stake in Core & Main, Inc. (NYSE:CNM) by 9.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,084,200 shares of the company’s stock after selling 114,800 shares during the period. Swedbank AB owned approximately 0.55% of Core & Main worth $56,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. acquired a new position in shares of Core & Main during the 4th quarter worth $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Core & Main during the 4th quarter worth $28,000. Cubist Systematic Strategies LLC raised its holdings in shares of Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares in the last quarter. Finally, Rothschild Investment LLC raised its holdings in shares of Core & Main by 5,013.3% during the 3rd quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock worth $41,000 after buying an additional 752 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity at Core & Main

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.54, for a total value of $262,700.00. Following the transaction, the chief financial officer owned 12,500 shares in the company, valued at $656,750. This trade represents a 28.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was bought at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the acquisition, the director directly owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. This represents a 39.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.51% of the stock is currently owned by corporate insiders.

Core & Main Trading Down 0.0%

NYSE CNM opened at $47.27 on Monday. The business has a 50 day simple moving average of $49.34 and a 200 day simple moving average of $51.91. Core & Main, Inc. has a one year low of $43.96 and a one year high of $67.18. The stock has a market capitalization of $9.20 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.71 and a beta of 0.93. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51.

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.