Regency Capital Management Inc. DE Purchases 10,455 Shares of Core & Main, Inc. $CNM

Regency Capital Management Inc. DE increased its position in Core & Main, Inc. (NYSE:CNM) by 57.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,675 shares of the company’s stock after purchasing an additional 10,455 shares during the quarter. Regency Capital Management Inc. DE’s holdings in Core & Main were worth $1,490,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG grew its holdings in Core & Main by 3.8% during the 3rd quarter. Raiffeisen Bank International AG now owns 497,051 shares of the company’s stock worth $26,657,000 after acquiring an additional 18,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Core & Main by 881.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 52,963 shares of the company’s stock valued at $2,752,000 after acquiring an additional 47,569 shares in the last quarter. Procyon Advisors LLC bought a new stake in Core & Main during the 4th quarter valued at $1,779,000. Envestnet Asset Management Inc. boosted its position in Core & Main by 16.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 218,050 shares of the company’s stock valued at $11,738,000 after acquiring an additional 30,262 shares in the last quarter. Finally, Bornite Capital Management LP bought a new stake in Core & Main during the 3rd quarter valued at $53,830,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Stock Performance

Shares of CNM stock opened at $52.41 on Friday. The stock has a market cap of $10.20 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.87 and a beta of 0.91. The business has a 50-day simple moving average of $49.63 and a 200-day simple moving average of $51.89. The company has a quick ratio of 1.51, a current ratio of 2.63 and a debt-to-equity ratio of 1.02. Core & Main, Inc. has a 52-week low of $43.96 and a 52-week high of $67.18.

Insider Activity

In related news, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the completion of the transaction, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. The trade was a 28.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was purchased at an average price of $50.70 per share, with a total value of $99,980.40. Following the completion of the purchase, the director owned 6,939 shares in the company, valued at approximately $351,807.30. This trade represents a 39.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CNM. Barclays lowered their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Finally, Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.64.

Core & Main 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.