Isthmus Partners LLC Grows Stock Position in Core & Main, Inc. (NYSE:CNM)

Isthmus Partners LLC boosted its holdings in Core & Main, Inc. (NYSE:CNM) by 1.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,599 shares of the company’s stock after buying an additional 1,551 shares during the period. Isthmus Partners LLC’s holdings in Core & Main were worth $4,205,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in shares of Core & Main by 12.3% in the fourth quarter. US Bancorp DE now owns 1,795 shares of the company’s stock worth $91,000 after acquiring an additional 197 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its stake in shares of Core & Main by 4.8% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 5,616 shares of the company’s stock valued at $286,000 after buying an additional 258 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Core & Main by 51.3% during the 4th 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 last quarter. CIBC Asset Management Inc increased its holdings in shares of Core & Main by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 5,871 shares of the company’s stock worth $299,000 after buying an additional 287 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Core & Main by 0.6% in the 4th quarter. Arizona State Retirement System now owns 55,910 shares of the company’s stock worth $2,846,000 after buying an additional 360 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 1,974 shares of the firm’s 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 in the company, valued at $423,908.43. This trade represents a 20.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John R. Schaller sold 60,452 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.57, for a total value of $3,057,057.64. Following the completion of the transaction, the executive vice president now directly owns 17,898 shares in the company, valued at approximately $905,101.86. The trade was a 77.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,426 shares of company stock worth $8,359,825 in the last quarter. 3.49% of the stock is owned by corporate insiders.

Core & Main Price Performance

Shares of CNM stock opened at $47.89 on Monday. The firm has a fifty day simple moving average of $53.03 and a 200-day simple moving average of $48.65. The company has a market capitalization of $9.51 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a twelve month low of $37.22 and a twelve month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CNM. 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 research note on Tuesday, February 4th. Citigroup increased their target price on shares of Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Robert W. Baird lifted their price target on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Barclays boosted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their target price 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.