Charles Schwab Investment Management Inc. Grows Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Charles Schwab Investment Management Inc. increased its position in Core & Main, Inc. (NYSE:CNM - Free Report) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,666,765 shares of the company's stock after buying an additional 122,240 shares during the period. Charles Schwab Investment Management Inc. owned 0.84% of Core & Main worth $84,855,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CNM. FMR LLC lifted its position in Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company's stock worth $386,151,000 after buying an additional 1,903,280 shares during the last quarter. State Street Corp grew its stake in Core & Main by 9.7% in the 3rd quarter. State Street Corp now owns 5,522,009 shares of the company's stock worth $245,177,000 after acquiring an additional 489,224 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Core & Main by 1.0% during the 3rd quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company's stock worth $188,710,000 after purchasing an additional 41,521 shares during the period. Royal London Asset Management Ltd. raised its holdings in shares of Core & Main by 39.9% in the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company's stock valued at $167,029,000 after acquiring an additional 1,073,451 shares in the last quarter. Finally, Impax Asset Management Group plc raised its holdings in shares of Core & Main by 70.4% in the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock valued at $174,661,000 after purchasing an additional 1,416,907 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

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Core & Main Trading Up 3.0 %

Shares of CNM traded up $1.38 during midday trading on Friday, reaching $47.65. The company had a trading volume of 1,312,053 shares, compared to its average volume of 2,281,796. The firm has a 50 day simple moving average of $52.69 and a 200-day simple moving average of $48.55. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market cap of $9.47 billion, a PE ratio of 22.37, a price-to-earnings-growth 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.

Insiders Place Their Bets

In other news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 16,452 shares of the company's stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the transaction, the general counsel now owns 7,667 shares of the company's stock, valued at $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,294 shares of company stock valued at $9,383,685 over the last ninety days. Company insiders own 3.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CNM. Loop Capital upped their price objective on Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on shares of Core & Main from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Truist Financial upped their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Barclays boosted their price target on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on shares of Core & Main from $50.00 to $57.00 and gave the company a "neutral" rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.60.

Core & Main Profile

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.