Douglass Winthrop Advisors LLC Decreases Stake in Core & Main, Inc. (NYSE:CNM)

Douglass Winthrop Advisors LLC cut its position in Core & Main, Inc. (NYSE:CNM) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,051 shares of the company’s stock after selling 221 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Core & Main were worth $3,566,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avior Wealth Management LLC increased its holdings in 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 buying an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Core & Main during the 3rd quarter worth about $49,000. UMB Bank n.a. boosted its position in shares of Core & Main by 246.0% during the 4th quarter. UMB Bank n.a. now owns 962 shares of the company’s stock worth $49,000 after acquiring an additional 684 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 830 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Core & Main during the 4th quarter worth about $78,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Core & Main

In related news, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction 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 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 transaction 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 transaction of $3,057,057.64. Following the transaction, the executive vice president now owns 17,898 shares of the company’s stock, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock valued at $9,383,685 in the last ninety days. Insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Shares of CNM opened at $48.43 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The firm has a 50-day simple moving average of $52.37 and a 200-day simple moving average of $48.48. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 22.74, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CNM shares. Wells Fargo & Company upped their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. 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 report on Wednesday, December 4th. Loop Capital increased their target price 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. Citigroup boosted their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Finally, Truist Financial raised their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One 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, Core & Main currently has an average rating of “Moderate Buy” and a consensus target price 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.