Bank Julius Baer & Co. Ltd Zurich Increases Holdings in Core & Main, Inc. (NYSE:CNM)

Bank Julius Baer & Co. Ltd Zurich raised its holdings in Core & Main, Inc. (NYSE:CNM) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 228,726 shares of the company’s stock after purchasing an additional 29,029 shares during the period. Bank Julius Baer & Co. Ltd Zurich owned 0.12% of Core & Main worth $11,716,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC acquired a new position in shares of Core & Main in the third quarter valued at approximately $26,000. Avior Wealth Management LLC boosted its position in shares of Core & Main by 51.3% in the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock worth $41,000 after buying an additional 271 shares during the period. UMB Bank n.a. grew its position in Core & Main by 246.0% in the fourth quarter. UMB Bank n.a. now owns 962 shares of the company’s stock valued at $49,000 after acquiring an additional 684 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Core & Main during the 3rd quarter valued at $49,000. Finally, Blue Trust Inc. lifted its stake in shares of Core & Main by 187.4% in the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock worth $65,000 after acquiring an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Price Performance

CNM opened at $47.89 on Friday. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $9.51 billion, a P/E ratio of 22.48, a PEG ratio of 2.61 and a beta of 1.05. The stock has a fifty day moving average of $53.03 and a 200-day moving average of $48.67.

Insider Buying and Selling

In related news, President Bradford A. Cowles sold 12,500 shares of the business’s stock in a transaction that occurred 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 transaction, the president now directly owns 16,010 shares of the company’s stock, valued at approximately $808,505. The trade was a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the sale, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $423,908.43. The trade was a 20.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 162,426 shares of company stock valued at $8,359,825. Corporate insiders own 3.49% of the company’s stock.

Wall Street Analysts Forecast Growth

CNM has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Loop Capital increased their price objective on Core & Main from $52.00 to $63.00 and gave the stock a “buy” rating 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 company a “hold” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Barclays boosted their target price on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and a consensus target price of $57.60.

About Core & Main

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.