KBC Group NV Grows Stock Holdings in Core & Main, Inc. $CNM

KBC Group NV increased its stake in shares of Core & Main, Inc. (NYSE:CNM) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,737,992 shares of the company’s stock after buying an additional 119,076 shares during the quarter. KBC Group NV’s holdings in Core & Main were worth $135,257,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Core & Main during the 4th quarter valued at approximately $108,265,000. First Trust Advisors LP grew its stake in shares of Core & Main by 38.6% in the 4th quarter. First Trust Advisors LP now owns 5,318,070 shares of the company’s stock valued at $276,380,000 after purchasing an additional 1,482,235 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Core & Main in the 3rd quarter valued at approximately $67,284,000. Morgan Stanley increased its holdings in shares of Core & Main by 8.3% in the fourth quarter. Morgan Stanley now owns 14,586,859 shares of the company’s stock valued at $758,079,000 after purchasing an additional 1,118,145 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Core & Main by 286.6% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,379,820 shares of the company’s stock valued at $74,276,000 after purchasing an additional 1,022,864 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNM. Citigroup decreased their price target on Core & Main from $54.00 to $53.00 and set a “neutral” rating for the company 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. Barclays cut their price objective on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and an average price target of $57.73.

Insiders Place Their Bets

In other Core & Main news, Director James D. Hope acquired 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 transaction, the director owned 11,805 shares of the company’s stock, valued at $543,148.05. The trade was a 21.23% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.51% of the stock is owned by corporate insiders.

Core & Main Stock Up 0.3%

CNM opened at $45.38 on Monday. 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 business has a 50 day simple moving average of $47.73 and a 200-day simple moving average of $51.13. The stock has a market capitalization of $8.78 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.57 and a beta of 0.91. Core & Main, Inc. has a 12 month low of $43.96 and a 12 month high of $67.18.

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.