Handelsbanken Fonder AB Lowers Position in Core & Main, Inc. $CNM

Handelsbanken Fonder AB trimmed its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,233,692 shares of the company’s stock after selling 67,808 shares during the period. Handelsbanken Fonder AB owned about 0.64% of Core & Main worth $59,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in Core & Main by 22.3% in the first quarter. California State Teachers Retirement System now owns 219,934 shares of the company’s stock worth $10,865,000 after buying an additional 40,050 shares in the last quarter. KBC Group NV lifted its holdings in Core & Main by 11.6% during the fourth quarter. KBC Group NV now owns 2,618,916 shares of the company’s stock worth $136,105,000 after buying an additional 272,258 shares during the period. Impax Asset Management Group plc boosted its position in Core & Main by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company’s stock valued at $149,289,000 after acquiring an additional 279,373 shares in the last quarter. Thomasville National Bank bought a new stake in Core & Main during the 4th quarter valued at $11,112,000. Finally, WINTON GROUP Ltd increased its holdings in shares of Core & Main by 177.4% in the 4th quarter. WINTON GROUP Ltd now owns 33,015 shares of the company’s stock valued at $1,716,000 after acquiring an additional 21,113 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a research report on Thursday, June 11th. Wall Street Zen downgraded Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday. William Blair initiated coverage on Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating on the stock. Finally, Citigroup reduced their target price on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.70.

Core & Main Stock Down 0.6%

Shares of CNM stock opened at $46.25 on Tuesday. Core & Main, Inc. has a 1-year low of $41.88 and a 1-year high of $67.18. The stock’s fifty day moving average price is $46.69 and its 200 day moving average price is $49.90. 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 company has a market cap of $8.95 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 1.60 and a beta of 0.92.

Insider Buying and Selling

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

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.