South Street Advisors LLC Sells 20,473 Shares of Core & Main, Inc. $CNM

South Street Advisors LLC lessened its holdings in Core & Main, Inc. (NYSE:CNM) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,950 shares of the company’s stock after selling 20,473 shares during the quarter. Core & Main accounts for approximately 1.6% of South Street Advisors LLC’s holdings, making the stock its 26th biggest holding. South Street Advisors LLC owned approximately 0.11% of Core & Main worth $11,275,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its stake in shares of Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 269 shares during the period. TD Waterhouse Canada Inc. bought a new stake in Core & Main during the fourth quarter worth about $26,000. Whittier Trust Co. bought a new stake in Core & Main during the 4th quarter worth approximately $28,000. Cubist Systematic Strategies LLC grew its position in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the last quarter. Finally, Rothschild Investment LLC grew its position in Core & Main by 5,013.3% during the 3rd quarter. Rothschild Investment LLC now owns 767 shares of the company’s stock worth $41,000 after acquiring an additional 752 shares during the last quarter. Institutional investors own 94.19% of the company’s stock.

Insider Activity

In other Core & Main news, CFO Robyn L. Bradbury sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the transaction, the chief financial officer directly owned 12,500 shares of the company’s stock, valued at $656,750. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope purchased 1,972 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was acquired at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the purchase, the director owned 6,939 shares in the company, valued at approximately $351,807.30. The trade was a 39.70% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.51% of the stock is owned by company insiders.

Core & Main Price Performance

Core & Main stock opened at $49.24 on Friday. The stock’s fifty day moving average price is $49.39 and its two-hundred day moving average price is $51.83. Core & Main, Inc. has a one year low of $43.96 and a one year high of $67.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. The firm has a market cap of $9.59 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Zacks Research lowered shares of Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Barclays reduced their price target on Core & Main from $63.00 to $62.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Core & Main from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.64.

Core & Main Company Profile

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.