Core & Main, Inc. $CNM Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its position in Core & Main, Inc. (NYSE:CNM) by 27.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,377,281 shares of the company’s stock after selling 1,246,446 shares during the period. Janus Henderson Group PLC’s holdings in Core & Main were worth $166,867,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CNM. TD Waterhouse Canada Inc. purchased a new stake in shares of Core & Main during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC raised its stake in shares of Core & Main by 145.4% during 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 during the period. Whittier Trust Co. purchased a new position in Core & Main in the 4th quarter valued at about $28,000. Cubist Systematic Strategies LLC boosted its holdings in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Core & Main in the fourth quarter worth $38,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Core & Main news, Director James D. Hope purchased 2,067 shares of the business’s stock in a transaction on Monday, July 6th. The stock was purchased at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the purchase, the director directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.51% of the company’s stock.

Core & Main Stock Up 2.7%

Core & Main stock opened at $43.51 on Friday. 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 firm has a fifty day moving average price of $47.07 and a two-hundred day moving average price of $50.46. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.46 and a beta of 0.91. Core & Main, Inc. has a fifty-two week low of $41.88 and a fifty-two week high of $67.18.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CNM shares. William Blair initiated coverage on Core & Main in a research note on Thursday, July 23rd. They set a “market perform” rating on the stock. Wall Street Zen upgraded Core & Main from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $24.00 price objective on shares of Core & Main in a report on Thursday, June 11th. Finally, Citigroup dropped their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.70.

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.