UBS Group AG Has $25.33 Million Stock Position in Core & Main, Inc. $CNM

UBS Group AG reduced its position in Core & Main, Inc. (NYSE:CNM) by 35.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 487,344 shares of the company’s stock after selling 266,265 shares during the period. UBS Group AG’s holdings in Core & Main were worth $25,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Impax Asset Management Group plc increased its stake 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 valued at $149,289,000 after buying an additional 279,373 shares during the period. Montrusco Bolton Investments Inc. increased its stake in shares of Core & Main by 2.4% in the 4th quarter. Montrusco Bolton Investments Inc. now owns 171,615 shares of the company’s stock valued at $8,919,000 after buying an additional 4,000 shares during the period. M&T Bank Corp increased its stake in shares of Core & Main by 84.4% in the 4th quarter. M&T Bank Corp now owns 8,149 shares of the company’s stock valued at $424,000 after buying an additional 3,729 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of Core & Main during the fourth quarter worth $228,000. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Core & Main during the fourth quarter worth $26,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Barclays decreased their price objective on Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Wednesday, March 25th. Finally, Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.64.

Insider Transactions at Core & Main

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the business’s stock in a transaction dated 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. The trade was a 28.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope purchased 1,972 shares of the business’s stock in a transaction dated Tuesday, April 7th. The stock was purchased at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the acquisition, the director owned 6,939 shares of the company’s stock, valued at approximately $351,807.30. This represents a 39.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.51% of the company’s stock.

Core & Main Stock Up 0.0%

NYSE:CNM opened at $49.09 on Monday. Core & Main, Inc. has a 1 year low of $43.96 and a 1 year high of $67.18. The company has a current ratio of 2.63, a quick ratio of 1.51 and a debt-to-equity ratio of 1.02. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.77 and a beta of 0.93. The stock has a 50-day moving average price of $50.47 and a two-hundred day moving average price of $52.36.

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.