Raymond James Financial Inc. acquired a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,269,798 shares of the company's stock, valued at approximately $115,555,000. Raymond James Financial Inc. owned 1.14% of Core & Main at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Eagle Asset Management Inc. lifted its holdings in Core & Main by 2.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company's stock worth $74,979,000 after buying an additional 44,282 shares in the last quarter. Quest Partners LLC grew its stake in Core & Main by 1,195,600.0% during the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company's stock worth $531,000 after purchasing an additional 11,956 shares in the last quarter. Impax Asset Management Group plc increased its holdings in Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company's stock worth $174,661,000 after purchasing an additional 1,416,907 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Core & Main in the 3rd quarter valued at about $774,000. Finally, South Street Advisors LLC grew its position in shares of Core & Main by 36.0% during the third quarter. South Street Advisors LLC now owns 234,144 shares of the company's stock worth $10,396,000 after buying an additional 61,962 shares in the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.
Core & Main Stock Performance
Shares of NYSE:CNM traded up $0.92 during midday 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. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. The stock has a 50 day moving average price of $52.86 and a two-hundred day moving average price of $48.57. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a market capitalization of $9.43 billion, a PE ratio of 22.29, a P/E/G ratio of 2.61 and a beta of 1.05.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Truist Financial raised 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. Loop Capital boosted their target price on Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Citigroup increased their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Finally, Robert W. Baird lifted their price target on shares of Core & Main from $60.00 to $66.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $57.60.
Read Our Latest Research Report on CNM
Insider Activity at Core & Main
In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the completion of the transaction, the general counsel now owns 7,667 shares in the company, valued at $387,106.83. This trade represents a 86.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John R. Schaller sold 60,452 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $50.57, for a total transaction of $3,057,057.64. Following the sale, the executive vice president now directly owns 17,898 shares in the company, valued at approximately $905,101.86. This represents a 77.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock worth $9,383,685 over the last three months. 3.49% of the stock is currently owned by corporate insiders.
Core & Main Profile
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Free Report)
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.
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