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

Royal London Asset Management Ltd. increased its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,810,739 shares of the company’s stock after acquiring an additional 48,833 shares during the period. Royal London Asset Management Ltd.’s holdings in Core & Main were worth $194,005,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Algebris UK Ltd purchased a new stake in shares of Core & Main in the fourth quarter worth $833,000. Chesapeake Capital Corp IL purchased a new stake in Core & Main during the 4th quarter valued at about $223,000. Enhancing Capital LLC purchased a new stake in Core & Main during the 4th quarter valued at about $1,611,000. Xponance Inc. increased its stake in Core & Main by 3.9% during the 4th quarter. Xponance Inc. now owns 33,160 shares of the company’s stock valued at $1,688,000 after purchasing an additional 1,249 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Core & Main by 4.2% in the fourth quarter. Advisors Asset Management Inc. now owns 56,424 shares of the company’s stock worth $2,873,000 after buying an additional 2,284 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CNM. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Loop Capital lifted their target price on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Barclays lifted 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. Finally, Robert W. Baird upped their target price on shares of Core & Main from $60.00 to $66.00 and gave the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.60.

Insider Buying and Selling at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 25,000 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $54.48, for a total transaction of $1,362,000.00. Following the completion of the sale, the president now owns 16,010 shares of the company’s stock, valued at approximately $872,224.80. The trade was a 60.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the general counsel now directly owns 7,667 shares in the company, valued at $387,106.83. This trade represents a 86.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,294 shares of company stock valued at $9,383,685. Insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $49.05 on Thursday. 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 stock has a market capitalization of $9.74 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. The firm’s 50 day moving average price is $52.43 and its 200-day moving average price is $48.48. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15.

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.