Madison Asset Management LLC Makes New $5.59 Million Investment in Core & Main, Inc. $CNM

Madison Asset Management LLC purchased a new stake in Core & Main, Inc. (NYSE:CNM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 115,865 shares of the company’s stock, valued at approximately $5,590,000. Madison Asset Management LLC owned 0.06% of Core & Main as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. California State Teachers Retirement System increased its holdings 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 valued at $10,865,000 after purchasing an additional 40,050 shares during the period. KBC Group NV lifted its holdings in Core & Main by 4.5% during the 1st quarter. KBC Group NV now owns 2,737,992 shares of the company’s stock worth $135,257,000 after buying an additional 119,076 shares during the period. Impax Asset Management Group plc lifted its holdings 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 worth $149,289,000 after buying an additional 279,373 shares during the period. WINTON GROUP Ltd grew its position 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 buying an additional 21,113 shares during the last quarter. Finally, Fox Hill Wealth Management bought a new stake in shares of Core & Main in the 4th quarter valued at about $2,798,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

Shares of CNM opened at $45.33 on Thursday. Core & Main, Inc. has a 52-week low of $41.88 and a 52-week high of $67.18. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The business’s 50 day moving average price is $45.88 and its two-hundred day moving average price is $49.36. The firm has a market cap of $8.77 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

Analysts Set New Price Targets

A number of equities analysts recently commented on CNM shares. Wall Street Zen lowered Core & Main from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup reduced their target price on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. William Blair started coverage on shares of Core & Main in a report on Thursday, July 23rd. They set a “market perform” rating for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.70.

Insider Buying and Selling at Core & Main

In related news, Director James D. Hope acquired 2,067 shares of the 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 purchase, the director directly owned 11,805 shares of the company’s stock, valued at $543,148.05. The trade was a 21.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.51% of the stock is owned by corporate insiders.

About Core & Main

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.