Foster & Motley Inc. Invests $1.28 Million in Core & Main, Inc. $CNM

Foster & Motley Inc. acquired a new position in Core & Main, Inc. (NYSE:CNM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 26,576 shares of the company’s stock, valued at approximately $1,282,000.

A number of other hedge funds also recently made changes to their positions in CNM. Norges Bank purchased a new stake in shares of Core & Main during the fourth quarter worth about $108,265,000. First Trust Advisors LP lifted its holdings in Core & Main by 38.6% in the 4th quarter. First Trust Advisors LP now owns 5,318,070 shares of the company’s stock worth $276,380,000 after purchasing an additional 1,482,235 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new position in Core & Main in the 3rd quarter worth approximately $67,284,000. Morgan Stanley boosted its stake in Core & Main by 8.3% in the 4th quarter. Morgan Stanley now owns 14,586,859 shares of the company’s stock worth $758,079,000 after purchasing an additional 1,118,145 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its holdings in Core & Main by 286.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,379,820 shares of the company’s stock valued at $74,276,000 after buying an additional 1,022,864 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors.

Core & Main Price Performance

Core & Main stock opened at $45.33 on Thursday. Core & Main, Inc. has a 12-month low of $41.88 and a 12-month high of $67.18. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average price of $45.88 and a 200-day moving average price of $49.36. The firm has a market capitalization 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.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CNM shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $24.00 target price on shares of Core & Main in a research note on Thursday, June 11th. William Blair began coverage on shares of Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating on the stock. Wall Street Zen lowered Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, 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. Seven 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 company currently has an average rating of “Moderate Buy” and an average target price of $56.70.

Insider Transactions at Core & Main

In other news, Director James D. Hope bought 2,067 shares of the stock in a transaction on Monday, July 6th. The stock was acquired at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the acquisition, the director owned 11,805 shares of the company’s stock, valued at $543,148.05. This represents a 21.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is currently 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.