United Services Automobile Association Buys 907 Shares of Core & Main, Inc. (NYSE:CNM)

United Services Automobile Association raised its stake in shares of Core & Main, Inc. (NYSE:CNM) by 7.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,332 shares of the company’s stock after purchasing an additional 907 shares during the period. United Services Automobile Association’s holdings in Core & Main were worth $628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Core & Main by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 18,219,997 shares of the company’s stock valued at $927,580,000 after buying an additional 221,970 shares during the period. LPL Financial LLC increased its position in Core & Main by 16.1% during the fourth quarter. LPL Financial LLC now owns 17,757 shares of the company’s stock valued at $904,000 after acquiring an additional 2,461 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Core & Main in the fourth quarter valued at $1,985,000. American Century Companies Inc. lifted its holdings in shares of Core & Main by 6.3% in the 4th quarter. American Century Companies Inc. now owns 1,384,886 shares of the company’s stock worth $70,505,000 after acquiring an additional 81,706 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in shares of Core & Main by 104.2% during the 4th quarter. Teacher Retirement System of Texas now owns 50,670 shares of the company’s stock worth $2,580,000 after purchasing an additional 25,851 shares during the period. 94.19% of the stock is owned by institutional investors.

Insider Activity

In related 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 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 of the company’s stock, valued at $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John R. Schaller sold 60,452 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.57, for a total value of $3,057,057.64. Following the sale, the executive vice president now owns 17,898 shares of the company’s stock, valued at approximately $905,101.86. This represents a 77.16 % 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. 3.49% of the stock is currently owned by corporate insiders.

Core & Main Stock Up 2.6 %

NYSE:CNM opened at $49.55 on Tuesday. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company has a 50-day moving average of $52.28 and a 200 day moving average of $48.64. The firm has a market cap of $9.84 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CNM. The Goldman Sachs Group raised 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. Robert W. Baird raised their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. 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. Barclays lifted their target price 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, Loop Capital upped their price target on shares of Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.60.

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.