Renaissance Technologies LLC Purchases Shares of 814,100 Core & Main, Inc. $CNM

Renaissance Technologies LLC purchased a new stake in Core & Main, Inc. (NYSE:CNM) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 814,100 shares of the company’s stock, valued at approximately $40,217,000.

A number of other institutional investors have also made changes to their positions in CNM. TD Waterhouse Canada Inc. bought a new stake in Core & Main during the 4th quarter valued at approximately $26,000. EverSource Wealth Advisors LLC increased its position in Core & Main by 145.4% in the 2nd 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 period. Whittier Trust Co. bought a new position in Core & Main in the 4th quarter worth approximately $28,000. Cubist Systematic Strategies LLC lifted its holdings in shares of Core & Main by 262.0% during the first 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 last quarter. Finally, Quarry LP acquired a new position in shares of Core & Main during the fourth quarter worth approximately $38,000. 94.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Core & Main from a “hold” rating to a “buy” rating in a research note on Saturday. William Blair initiated coverage on shares of Core & Main in a report on Thursday. They issued a “market perform” rating for the company. Citigroup decreased 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. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $24.00 price objective on shares of Core & Main in a research report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.70.

Insider Transactions at Core & Main

In other news, Director James D. Hope bought 2,067 shares of Core & Main stock in a transaction dated Monday, July 6th. The shares were bought at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the purchase, the director owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This trade represents a 21.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.51% of the stock is owned by corporate insiders.

Core & Main Price Performance

NYSE:CNM opened at $43.63 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.31 and a current ratio of 2.31. The company has a 50-day moving average of $47.26 and a 200-day moving average of $50.71. Core & Main, Inc. has a 52 week low of $42.50 and a 52 week high of $67.18. The company has a market capitalization of $8.44 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.51 and a beta of 0.91.

About Core & Main

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.