PGGM Investments Boosts Stock Holdings in Core & Main, Inc. $CNM

PGGM Investments grew its position in shares of Core & Main, Inc. (NYSE:CNM) by 56.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 467,436 shares of the company’s stock after buying an additional 168,936 shares during the quarter. PGGM Investments’ holdings in Core & Main were worth $24,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in Core & Main by 881.9% during the fourth 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 during the period. Raiffeisen Bank International AG lifted its position in Core & Main by 3.8% during the third quarter. Raiffeisen Bank International AG now owns 497,051 shares of the company’s stock valued at $26,657,000 after purchasing an additional 18,000 shares during the period. Procyon Advisors LLC bought a new position in Core & Main during the fourth quarter valued at approximately $1,779,000. Envestnet Asset Management Inc. lifted its position in Core & Main by 16.1% during the third quarter. Envestnet Asset Management Inc. now owns 218,050 shares of the company’s stock valued at $11,738,000 after purchasing an additional 30,262 shares during the period. Finally, Mediolanum International Funds Ltd bought a new position in Core & Main during the third quarter valued at approximately $7,383,000. Institutional investors own 94.19% of the company’s stock.

Core & Main Stock Down 0.0%

Shares of CNM stock opened at $47.27 on Tuesday. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 1.71 and a beta of 0.93. Core & Main, Inc. has a one year low of $43.96 and a one year high of $67.18. The company’s fifty day moving average price is $49.33 and its 200-day moving average price is $51.88. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51.

Analysts Set New Price Targets

Several research analysts have weighed in on CNM shares. Barclays decreased their price target on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Finally, Zacks Research downgraded shares of 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 issued a Hold rating to the company. According to data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $61.64.

Insider Buying and Selling at Core & Main

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $52.54, for a total transaction of $262,700.00. Following the sale, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. This trade represents a 28.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope acquired 1,972 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the transaction, the director directly 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 SEC filing for this purchase provides additional information. 1.51% of the stock is owned by company 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.