Core & Main, Inc. $CNM Shares Acquired by First Trust Advisors LP

First Trust Advisors LP boosted its position in shares of Core & Main, Inc. (NYSE:CNM) by 15.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,130,840 shares of the company’s stock after buying an additional 812,770 shares during the quarter. First Trust Advisors LP owned 3.15% of Core & Main worth $302,863,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of 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 purchasing an additional 47,569 shares in the last quarter. KBC Group NV raised its holdings in shares of Core & Main by 11.6% in the 4th quarter. KBC Group NV now owns 2,618,916 shares of the company’s stock worth $136,105,000 after purchasing an additional 272,258 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Core & Main by 10.8% in the 4th quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock worth $149,289,000 after purchasing an additional 279,373 shares in the last quarter. Thomasville National Bank bought a new stake in shares of Core & Main in the 4th quarter worth approximately $11,112,000. Finally, Oak Thistle LLC acquired a new stake in Core & Main during the fourth quarter valued at approximately $509,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Core & Main news, Director James D. Hope purchased 2,067 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were acquired at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the acquisition, the director owned 11,805 shares of the company’s stock, valued at $543,148.05. This trade represents a 21.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.51% of the company’s stock.

Core & Main Stock Up 0.9%

CNM stock opened at $43.75 on Thursday. The company has a 50 day moving average of $47.48 and a two-hundred day moving average of $50.95. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.50 and a beta of 0.91. Core & Main, Inc. has a 12-month low of $42.50 and a 12-month high of $67.18. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Barclays cut their price objective on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Citigroup reduced their price objective on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, June 11th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $24.00 target price on shares of Core & Main in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.73.

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.