Janus Henderson Group PLC Trims Stake in Core & Main, Inc. $CNM

Janus Henderson Group PLC cut its stake in Core & Main, Inc. (NYSE:CNM) by 27.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,377,281 shares of the company’s stock after selling 1,246,446 shares during the period. Janus Henderson Group PLC owned about 1.74% of Core & Main worth $166,867,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CNM. TD Waterhouse Canada Inc. bought a new position in Core & Main in the fourth quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its holdings in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares during the last quarter. Whittier Trust Co. purchased a new position in Core & Main in the 4th quarter worth $28,000. Cubist Systematic Strategies LLC increased its holdings in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares during the period. Finally, Quarry LP acquired a new position in Core & Main during the fourth quarter valued at $38,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CNM shares. Citigroup dropped their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of Core & Main from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. William Blair assumed coverage on Core & Main in a research note on Thursday, July 23rd. They set a “market perform” rating on the stock. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a research note on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.70.

Core & Main Price Performance

Shares of NYSE:CNM opened at $43.51 on Friday. Core & Main, Inc. has a 12 month low of $41.88 and a 12 month high of $67.18. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.31 and a quick ratio of 1.31. The firm has a market capitalization of $8.42 billion, a P/E ratio of 18.44, a P/E/G ratio of 1.46 and a beta of 0.91. The company’s fifty day moving average price is $47.07 and its 200 day moving average price is $50.46.

Insider Activity

In related news, Director James D. Hope acquired 2,067 shares of Core & Main stock in a transaction on Monday, July 6th. The stock was purchased at an average cost of $46.01 per share, with a total value of $95,102.67. Following the purchase, the director directly owned 11,805 shares in the company, valued at approximately $543,148.05. The trade was a 21.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.51% of the stock is currently owned by corporate insiders.

Core & Main 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.