Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Core & Main, Inc. (NYSE:CNM)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,425,215 shares of the company's stock after selling 131,391 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.72% of Core & Main worth $72,558,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CNM. Ashton Thomas Securities LLC acquired a new position in Core & Main in the third quarter valued at about $26,000. Avior Wealth Management LLC grew its holdings in shares of 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 purchasing an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Core & Main during the 3rd quarter worth approximately $49,000. UMB Bank n.a. raised its stake in shares of Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company's stock valued at $49,000 after acquiring an additional 684 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Core & Main by 187.4% in the 4th 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 currently owned by hedge funds and other institutional investors.

Core & Main Stock Performance

Shares of NYSE:CNM traded down $1.33 on Thursday, reaching $46.20. The company's stock had a trading volume of 2,181,384 shares, compared to its average volume of 2,286,407. Core & Main, Inc. has a 52-week low of $37.22 and a 52-week high of $62.15. The stock has a market capitalization of $9.18 billion, a P/E ratio of 21.69, a PEG ratio of 2.61 and a beta of 1.05. The stock's 50-day moving average is $52.80 and its two-hundred day moving average is $48.56. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

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Analyst Ratings Changes

A number of equities analysts have recently commented on CNM shares. Loop Capital boosted their price objective on Core & Main from $52.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of Core & Main from $50.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, December 5th. Barclays raised their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Robert W. Baird increased 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 upped their price objective 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $57.60.

Insider Activity at Core & Main

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the business's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $50.49, for a total value of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares of the company's stock, valued at approximately $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Bradford A. Cowles sold 12,500 shares of the 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 sale, the president now directly owns 16,010 shares of the company's stock, valued at approximately $808,505. This represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,294 shares of company stock worth $9,383,685 in the last quarter. Company insiders own 3.49% of the company's stock.

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.