Y Intercept Hong Kong Ltd Reduces Stock Position in Core & Main, Inc. $CNM

Y Intercept Hong Kong Ltd trimmed its stake in shares of Core & Main, Inc. (NYSE:CNM) by 60.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,849 shares of the company’s stock after selling 12,220 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Core & Main were worth $388,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Deutsche Bank AG grew its holdings in shares of Core & Main by 1.1% in the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock worth $928,000 after acquiring an additional 190 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in Core & Main by 13.8% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock worth $109,000 after purchasing an additional 237 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Core & Main by 4.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock worth $283,000 after purchasing an additional 261 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Core & Main by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares in the last quarter. Finally, Steph & Co. boosted its position in Core & Main by 36.6% during the fourth quarter. Steph & Co. now owns 1,037 shares of the company’s stock worth $54,000 after purchasing an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insider Buying and Selling at Core & Main

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 value of $262,700.00. Following the sale, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. This represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 acquired 2,067 shares of Core & Main stock in a transaction dated Monday, July 6th. The stock was bought at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the transaction, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This represents a 21.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft cut their price target on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Citigroup decreased their price objective on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Finally, Barclays lowered their price objective on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 25th. Seven investment 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.73.

Core & Main Trading Up 1.0%

Shares of Core & Main stock opened at $45.17 on Wednesday. Core & Main, Inc. has a 1 year low of $43.96 and a 1 year high of $67.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The business has a 50 day moving average price of $48.00 and a 200 day moving average price of $51.32. The company has a market capitalization of $8.74 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.55 and a beta of 0.91.

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.