Royal London Asset Management Ltd. Buys 48,833 Shares of Core & Main, Inc. (NYSE:CNM)

Royal London Asset Management Ltd. boosted its holdings in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,810,739 shares of the company's stock after purchasing an additional 48,833 shares during the quarter. Royal London Asset Management Ltd. owned about 1.92% of Core & Main worth $194,005,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in shares of Core & Main during the fourth quarter valued at about $115,555,000. PointState Capital LP bought a new position in Core & Main during the third quarter valued at approximately $100,013,000. FMR LLC grew its holdings in Core & Main by 28.0% during the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company's stock valued at $386,151,000 after buying an additional 1,903,280 shares in the last quarter. Impax Asset Management Group plc grew 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 valued at $174,661,000 after buying an additional 1,416,907 shares in the last quarter. Finally, Spruce House Investment Management LLC increased its stake in Core & Main by 400.0% in the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company's stock worth $66,600,000 after acquiring an additional 1,200,000 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP John R. Schaller sold 21,868 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the transaction, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. This trade represents a 57.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Bradford A. Cowles sold 25,000 shares of Core & Main stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the sale, the president now owns 16,010 shares of the company's stock, valued at $872,224.80. The trade was a 60.96 % 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 quarter. Company insiders own 3.49% of the company's stock.

Remove Ads

Core & Main Trading Up 2.6 %

Shares of CNM traded up $1.28 during mid-day trading on Monday, reaching $49.55. 3,803,481 shares of the company's stock traded hands, compared to its average volume of 2,228,725. 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 stock's 50-day moving average is $52.32 and its two-hundred day moving average is $48.56. Core & Main, Inc. has a 12 month low of $37.22 and a 12 month high of $62.15. The stock has a market cap of $9.84 billion, a P/E ratio of 23.26, a P/E/G ratio of 2.61 and a beta of 1.05.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, December 5th. 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 research report on Wednesday, December 4th. Barclays lifted their price target on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Finally, Citigroup upped their price objective on Core & Main from $43.00 to $56.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $57.60.

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.