Skandinaviska Enskilda Banken AB publ Boosts Position in Core & Main, Inc. (NYSE:CNM)

Skandinaviska Enskilda Banken AB publ raised its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 44.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 786,800 shares of the company's stock after purchasing an additional 242,400 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.40% of Core & Main worth $39,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Core & Main in the third quarter valued at $26,000. Avior Wealth Management LLC raised its position in shares of Core & Main by 51.3% during the 4th quarter. Avior Wealth Management LLC now owns 799 shares of the company's stock worth $41,000 after acquiring an additional 271 shares in the last quarter. UMB Bank n.a. lifted its stake in Core & Main by 246.0% during the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock worth $49,000 after purchasing an additional 684 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Core & Main during the third quarter worth approximately $49,000. Finally, Blue Trust Inc. boosted its holdings in Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company's stock valued at $65,000 after purchasing an additional 830 shares in the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the transaction, the general counsel now directly owns 7,667 shares of the company's stock, valued at $387,106.83. This represents a 86.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John R. Schaller sold 21,868 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 16,452 shares of the company's stock, valued at $770,282.64. This represents a 57.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,294 shares of company stock worth $9,383,685. Company insiders own 3.49% of the company's stock.

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Core & Main Stock Performance

Shares of NYSE CNM traded up $0.16 during mid-day trading on Monday, hitting $47.84. 2,107,201 shares of the company were exchanged, compared to its average volume of 2,254,581. The stock has a 50 day simple moving average of $52.60 and a 200-day simple moving average of $48.48. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. 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 firm has a market cap of $9.50 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CNM. Citigroup boosted their price objective on shares of Core & Main from $43.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Barclays raised their price objective on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Robert W. Baird boosted their target price on Core & Main from $60.00 to $66.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Truist Financial lifted 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. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.60.

Core & Main Company 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.