Amundi Increases Stock Position in Core & Main, Inc. (NYSE:CNM)

Amundi boosted its stake in Core & Main, Inc. (NYSE:CNM) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,659,261 shares of the company’s stock after acquiring an additional 196,828 shares during the period. Amundi owned 1.84% of Core & Main worth $186,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of Core & Main in the fourth quarter valued at approximately $115,555,000. PointState Capital LP acquired a new stake in shares of Core & Main in the 3rd quarter worth $100,013,000. FMR LLC lifted its stake in shares of Core & Main by 28.0% in the 3rd quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares during the period. Impax Asset Management Group plc boosted its holdings in shares of Core & Main by 373.0% in the third quarter. Impax Asset Management Group plc now owns 2,013,880 shares of the company’s stock valued at $89,416,000 after acquiring an additional 1,588,117 shares in the last quarter. Finally, Spruce House Investment Management LLC increased its stake in shares of Core & Main by 400.0% during the third quarter. Spruce House Investment Management LLC now owns 1,500,000 shares of the company’s stock worth $66,600,000 after acquiring an additional 1,200,000 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Core & Main

In other Core & Main news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.49, for a total transaction of $2,524,500.00. Following the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at $387,106.83. This represents a 86.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP John R. Schaller sold 60,452 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $50.57, for a total value of $3,057,057.64. Following the sale, the executive vice president now owns 17,898 shares in the company, valued at $905,101.86. This trade represents a 77.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 162,426 shares of company stock valued at $8,359,825. 3.49% of the stock is owned by insiders.

Core & Main Stock Performance

Core & Main stock opened at $47.89 on Monday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.28 and a current ratio of 2.14. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a fifty-two week low of $37.22 and a fifty-two week high of $62.15. The stock has a fifty day moving average of $53.03 and a two-hundred day moving average of $48.65.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Loop Capital increased their price target on shares of Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup increased their target price on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Robert W. Baird boosted their price target on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company upped their price target on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Barclays lifted their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One equities research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $57.60.

Core & Main 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.