Core & Main, Inc. (NYSE:CNM) Position Increased by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 14.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 228,726 shares of the company's stock after buying an additional 29,029 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.12% of Core & Main worth $11,716,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Core & Main in the 3rd quarter worth about $26,000. Avior Wealth Management LLC raised its holdings in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after acquiring an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Core & Main during the third quarter valued at approximately $49,000. UMB Bank n.a. grew its stake in shares of Core & Main by 246.0% in the 4th quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after buying an additional 684 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock worth $65,000 after buying an additional 830 shares during the last quarter. Institutional investors own 94.19% of the company's stock.

Core & Main Price Performance

CNM stock traded up $0.92 on Wednesday, reaching $47.47. The company had a trading volume of 2,985,513 shares, compared to its average volume of 1,685,380. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The company's fifty day moving average is $52.86 and its 200 day moving average is $48.57. The company has a market cap of $9.43 billion, a P/E ratio of 22.29, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15.

Remove Ads

Analyst Upgrades and Downgrades

A number of analysts recently commented on CNM shares. Robert W. Baird upped their price objective on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a research report on Wednesday, December 4th. Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Loop Capital raised their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Core & Main has an average rating of "Moderate Buy" and a consensus price target of $57.60.

Insider Activity

In related news, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the sale, the president now owns 16,010 shares of the company's stock, valued at $808,505. The trade was a 43.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now directly owns 16,452 shares of the company's stock, valued at $770,282.64. The trade was a 57.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock valued at $9,383,685 in the last 90 days. 3.49% of the stock is currently owned by insiders.

About Core & Main

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.