16,933 Shares in Core & Main, Inc. (NYSE:CNM) Purchased by Algebris UK Ltd

Algebris UK Ltd bought a new stake in shares of Core & Main, Inc. (NYSE:CNM) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 16,933 shares of the company’s stock, valued at approximately $833,000.

A number of other large investors also recently added to or reduced their stakes in CNM. Mutual of America Capital Management LLC raised its stake in shares of Core & Main by 6.5% during the third quarter. Mutual of America Capital Management LLC now owns 104,262 shares of the company’s stock worth $4,629,000 after buying an additional 6,347 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Core & Main by 6.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 109,225 shares of the company’s stock valued at $4,849,000 after acquiring an additional 6,227 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after purchasing an additional 11,956 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Core & Main by 4.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 54,140 shares of the company’s stock worth $2,404,000 after purchasing an additional 2,129 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Core & Main during the third quarter worth $541,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP John R. Schaller sold 21,868 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $46.82, for a total value of $1,023,859.76. Following the sale, the executive vice president now owns 16,452 shares of the company’s stock, valued at $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of the firm’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the completion of the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at approximately $808,505. This trade represents a 43.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 184,294 shares of company stock valued at $9,383,685 in the last quarter. 3.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company increased their price target on shares of Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and set a $62.00 price objective (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Truist Financial increased their target price on shares of Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Barclays boosted their price target on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.60.

Core & Main Stock Performance

CNM opened at $47.78 on Wednesday. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 22.43, a P/E/G ratio of 2.61 and a beta of 1.05. The business’s 50-day moving average price is $52.47 and its two-hundred day moving average price is $48.48. Core & Main, Inc. has a 1 year low of $37.22 and a 1 year high of $62.15. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.