Horizon Investments LLC Invests $1.78 Million in Core & Main, Inc. $CNM

Horizon Investments LLC bought a new position in Core & Main, Inc. (NYSE:CNM) during the fourth quarter, HoldingsChannel.com reports. The fund bought 34,196 shares of the company’s stock, valued at approximately $1,777,000.

A number of other institutional investors have also recently modified their holdings of the stock. Capital World Investors grew its stake in shares of Core & Main by 294.9% in the third quarter. Capital World Investors now owns 5,948,134 shares of the company’s stock worth $320,188,000 after acquiring an additional 4,442,047 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Core & Main by 10.7% in the third quarter. First Trust Advisors LP now owns 3,835,835 shares of the company’s stock worth $206,483,000 after acquiring an additional 369,200 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Core & Main by 10.8% in the fourth quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock worth $149,289,000 after acquiring an additional 279,373 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Core & Main by 0.9% in the third quarter. Handelsbanken Fonder AB now owns 2,850,232 shares of the company’s stock worth $153,428,000 after acquiring an additional 26,799 shares during the last quarter. Finally, Samlyn Capital LLC grew its stake in shares of Core & Main by 5.9% in the third quarter. Samlyn Capital LLC now owns 2,660,811 shares of the company’s stock worth $143,231,000 after acquiring an additional 147,166 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the transaction, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at $656,750. This represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope bought 1,972 shares of the stock in a transaction on Tuesday, April 7th. The stock was purchased at an average cost of $50.70 per share, for a total transaction of $99,980.40. Following the acquisition, the director owned 6,939 shares of the company’s stock, valued at $351,807.30. This trade represents a 39.70% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.53% of the company’s stock.

Core & Main Trading Up 1.3%

Shares of NYSE:CNM opened at $49.07 on Wednesday. The company has a market cap of $9.55 billion, a P/E ratio of 21.24, a PEG ratio of 1.75 and a beta of 0.93. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. Core & Main, Inc. has a 1 year low of $43.96 and a 1 year high of $67.18. The stock’s fifty day moving average price is $50.67 and its 200-day moving average price is $52.38.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNM. Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft cut their target price on Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Barclays cut their target price on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $63.00 price target on shares of Core & Main in a report on Friday, January 9th. Finally, Wells Fargo & Company upped their price target on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.64.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.