Madison Investment Advisors LLC Invests $8.15 Million in Core & Main, Inc. (NYSE:CNM)

Madison Investment Advisors LLC acquired a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 160,078 shares of the company's stock, valued at approximately $8,150,000. Madison Investment Advisors LLC owned 0.08% of Core & Main at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. US Bancorp DE raised its position in Core & Main by 12.3% in the fourth quarter. US Bancorp DE now owns 1,795 shares of the company's stock valued at $91,000 after purchasing an additional 197 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in Core & Main by 4.8% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company's stock valued at $286,000 after buying an additional 258 shares during the period. Avior Wealth Management LLC lifted its position in Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock valued at $41,000 after buying an additional 271 shares during the last quarter. CIBC Asset Management Inc lifted its position in Core & Main by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 5,871 shares of the company's stock valued at $299,000 after buying an additional 287 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Core & Main by 0.6% during the fourth quarter. Arizona State Retirement System now owns 55,910 shares of the company's stock worth $2,846,000 after buying an additional 360 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, President Bradford A. Cowles sold 25,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the transaction, the president now owns 16,010 shares of the company's stock, valued at $872,224.80. This represents a 60.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP John R. Schaller sold 60,452 shares of the firm's stock in a transaction on Friday, January 10th. The shares were 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. This represents a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 184,294 shares of company stock worth $9,383,685 over the last 90 days. 3.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CNM. Loop Capital upped their price objective on shares of Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Truist Financial raised their price target on Core & Main from $38.00 to $56.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Citigroup boosted their price objective on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Royal Bank of Canada restated an "outperform" rating and set a $62.00 target price (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price target 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.60.

Core & Main Stock Down 0.1 %

Shares of Core & Main stock traded down $0.07 on Tuesday, reaching $47.78. 1,170,760 shares of the company were exchanged, compared to its average volume of 2,250,113. The stock's 50 day moving average price is $52.53 and its 200-day moving average price is $48.48. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a market cap of $9.49 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

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.