Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Core & Main, Inc. (NYSE:CNM)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Core & Main, Inc. (NYSE:CNM) by 8.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,425,215 shares of the company’s stock after selling 131,391 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Core & Main were worth $72,558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CNM. Ashton Thomas Securities LLC purchased a new stake in shares of Core & Main in the third quarter worth approximately $26,000. Avior Wealth Management LLC increased its position in shares of Core & Main by 51.3% during the fourth quarter. Avior Wealth Management LLC now owns 799 shares of the company’s stock valued at $41,000 after acquiring an additional 271 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Core & Main during the third quarter valued at approximately $49,000. UMB Bank n.a. increased its position in shares of Core & Main by 246.0% during 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 during the last quarter. Finally, Blue Trust Inc. increased its position 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 acquiring an additional 830 shares during the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNM has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial increased their price target on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Barclays raised their target price on Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their target price on Core & Main from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.60.

Insider Transactions at Core & Main

In other news, President Bradford A. Cowles sold 25,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $54.48, for a total value of $1,362,000.00. Following the completion of the transaction, the president now directly owns 16,010 shares of the company’s stock, valued at $872,224.80. This trade represents a 60.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the completion of the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 162,426 shares of company stock valued at $8,359,825 over the last three months. Company insiders own 3.49% of the company’s stock.

Core & Main Price Performance

Core & Main stock opened at $47.89 on Monday. Core & Main, Inc. has a one year low of $37.22 and a one year high of $62.15. The business has a fifty day moving average price of $53.03 and a 200-day moving average price of $48.65. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28. 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.

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.