Swedbank AB Has $94.08 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Swedbank AB grew its position in Core & Main, Inc. (NYSE:CNM) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,847,900 shares of the company’s stock after buying an additional 65,800 shares during the quarter. Swedbank AB’s holdings in Core & Main were worth $94,077,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CNM. R Squared Ltd acquired a new position in Core & Main in the 4th quarter worth approximately $78,000. KBC Group NV boosted its position in shares of Core & Main by 20.6% in the fourth quarter. KBC Group NV now owns 1,639,138 shares of the company’s stock worth $83,449,000 after buying an additional 280,183 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Core & Main in the fourth quarter worth $2,702,000. Blue Trust Inc. grew its holdings in shares of Core & Main by 187.4% during the fourth quarter. Blue Trust Inc. now owns 1,273 shares of the company’s stock valued at $65,000 after buying an additional 830 shares in the last quarter. Finally, Andina Capital Management LLC raised its position in Core & Main by 6.5% during the fourth quarter. Andina Capital Management LLC now owns 9,274 shares of the company’s stock valued at $472,000 after buying an additional 567 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Stock Down 0.4 %

Core & Main stock opened at $56.52 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The firm’s fifty day simple moving average is $52.10 and its 200-day simple moving average is $48.35. The company has a market capitalization of $11.23 billion, a P/E ratio of 26.53, a P/E/G ratio of 3.16 and a beta of 1.02.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Sell-side analysts forecast that Core & Main, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CNM has been the subject of a number of research reports. Barclays raised their price objective on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Truist Financial raised their price target 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. The Goldman Sachs Group upped their price objective on shares of Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 target price (up previously from $53.00) on shares of Core & Main in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on shares of Core & Main from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.30.

Insider Buying and Selling

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $55.29, for a total transaction of $109,142.46. Following the completion of the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen O. Leclair sold 200,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $54.88, for a total transaction of $10,976,000.00. Following the sale, the chief executive officer now owns 92,349 shares of the company’s stock, valued at $5,068,113.12. This trade represents a 68.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 427,426 shares of company stock worth $22,923,825. 3.49% of the stock is currently owned by insiders.

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.