Wellington Management Group LLP Has $12.15 Million Stock Holdings in Core & Main, Inc. $CNM

Wellington Management Group LLP boosted its holdings in shares of Core & Main, Inc. (NYSE:CNM) by 52.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,724 shares of the company’s stock after acquiring an additional 86,672 shares during the quarter. Wellington Management Group LLP owned 0.13% of Core & Main worth $12,146,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Deutsche Bank AG lifted its position in shares of Core & Main by 1.1% during the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock valued at $928,000 after acquiring an additional 190 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Core & Main by 4.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock worth $283,000 after purchasing an additional 261 shares during the period. EverSource Wealth Advisors LLC increased its stake in Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. State of Michigan Retirement System increased its stake in Core & Main by 0.7% in the first quarter. State of Michigan Retirement System now owns 45,400 shares of the company’s stock valued at $2,243,000 after purchasing an additional 300 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Core & Main by 47.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock valued at $52,000 after purchasing an additional 311 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CNM shares. William Blair initiated coverage on shares of Core & Main in a research report on Thursday, July 23rd. They set a “market perform” rating on the stock. Citigroup cut their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, June 11th. The Goldman Sachs Group reissued a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a research note on Thursday, June 11th. Northcoast Research downgraded Core & Main from a “buy” rating to a “neutral” rating in a report on Wednesday, August 26th. Finally, Wall Street Zen lowered Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and an average price target of $56.70.

Insiders Place Their Bets

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

Core & Main Stock Performance

CNM stock opened at $44.37 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. The firm has a market cap of $8.59 billion, a PE ratio of 18.80, a P/E/G ratio of 1.53 and a beta of 0.91. The business has a 50 day moving average of $44.81 and a 200-day moving average of $48.18. Core & Main, Inc. has a 12-month low of $41.55 and a 12-month high of $67.18.

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.