Assetmark Inc. Trims Stock Position in Core & Main, Inc. (NYSE:CNM)

Assetmark Inc. lowered its stake in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,296 shares of the company's stock after selling 5,733 shares during the period. Assetmark Inc.'s holdings in Core & Main were worth $4,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. increased its holdings in Core & Main by 92.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 17,761 shares of the company's stock valued at $789,000 after acquiring an additional 8,547 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Core & Main by 373.0% during the third quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company's stock valued at $89,416,000 after purchasing an additional 1,588,117 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of Core & Main by 6.7% in the third quarter. Fiera Capital Corp now owns 173,076 shares of the company's stock worth $7,685,000 after purchasing an additional 10,826 shares during the last quarter. Meritage Portfolio Management lifted its position in shares of Core & Main by 11.5% in the third quarter. Meritage Portfolio Management now owns 12,579 shares of the company's stock worth $559,000 after buying an additional 1,296 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Core & Main during the third quarter valued at approximately $26,000. Hedge funds and other institutional investors own 94.19% of the company's stock.

Remove Ads

Core & Main Trading Up 2.0 %

Shares of Core & Main stock traded up $0.92 during trading on Wednesday, hitting $47.47. The stock had a trading volume of 2,555,891 shares, compared to its average volume of 2,286,987. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. The firm's fifty day simple moving average is $52.86 and its 200-day simple moving average is $48.57. The stock has a market cap of $9.43 billion, a PE ratio of 22.29, a PEG ratio of 2.61 and a beta of 1.05.

Analysts Set New Price Targets

CNM has been the topic of a number of research reports. Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. Truist Financial raised their target price 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. Loop Capital upped their price target on shares of Core & Main from $52.00 to $63.00 and gave the company 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. Finally, Citigroup boosted their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.60.

Insider Buying and Selling

In other Core & Main news, President Bradford A. Cowles sold 12,500 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.50, for a total value of $631,250.00. Following the transaction, the president now owns 16,010 shares of the company's stock, valued at $808,505. This represents a 43.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John R. Schaller sold 60,452 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the sale, the executive vice president now owns 17,898 shares in the company, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,294 shares of company stock valued at $9,383,685 in the last ninety days. 3.49% of the stock is owned by company 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.