Securian Asset Management Inc. Sells 438 Shares of Core & Main, Inc. (NYSE:CNM)

Securian Asset Management Inc. cut its holdings in Core & Main, Inc. (NYSE:CNM) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,563 shares of the company’s stock after selling 438 shares during the period. Securian Asset Management Inc.’s holdings in Core & Main were worth $741,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CNM. Raymond James Financial Inc. bought a new position in Core & Main in the fourth quarter worth approximately $115,555,000. PointState Capital LP bought a new stake in shares of Core & Main during the 3rd quarter valued at $100,013,000. FMR LLC raised its position in shares of 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 purchasing an additional 1,903,280 shares during the period. Impax Asset Management Group plc raised its position in shares of 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 purchasing an additional 1,416,907 shares during the period. Finally, Spruce House Investment Management LLC raised its position in shares of Core & Main by 400.0% during the 3rd quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock valued at $66,600,000 after purchasing an additional 1,200,000 shares during the period. 94.19% of the stock is currently owned by institutional investors.

Insider Activity at Core & Main

In other Core & Main news, President Bradford A. Cowles sold 25,000 shares of the company’s stock in a transaction that occurred on 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 sale, the president now directly owns 16,010 shares in the company, valued at $872,224.80. This represents a 60.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP John R. Schaller sold 60,452 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were 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 in the company, valued at approximately $905,101.86. This trade represents a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,294 shares of company stock valued at $9,383,685. Insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

Shares of NYSE:CNM opened at $47.65 on Friday. The firm has a fifty day simple moving average of $52.60 and a two-hundred day simple moving average of $48.49. Core & Main, Inc. has a 52 week low of $37.22 and a 52 week 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 stock has a market capitalization of $9.47 billion, a P/E ratio of 22.37, a PEG ratio of 2.61 and a beta of 1.05.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CNM shares. 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 research report on Wednesday, December 4th. Loop Capital raised their price objective on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada restated an “outperform” rating and set a $62.00 price objective (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Truist Financial raised their price objective on shares of Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, 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 research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.