Zurcher Kantonalbank Zurich Cantonalbank Has $16.46 Million Holdings in Core & Main, Inc. (NYSE:CNM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Core & Main, Inc. (NYSE:CNM) by 25.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,297 shares of the company’s stock after acquiring an additional 82,126 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.19% of Core & Main worth $16,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Cookson Peirce & Co. Inc. acquired a new position in shares of Core & Main in the 4th quarter worth approximately $234,000. VELA Investment Management LLC acquired a new position in shares of Core & Main in the 4th quarter worth approximately $888,000. Mackenzie Financial Corp acquired a new position in shares of Core & Main in the 4th quarter worth approximately $15,484,000. Lecap Asset Management Ltd. acquired a new position in shares of Core & Main in the 4th quarter worth approximately $722,000. Finally, Louisiana State Employees Retirement System acquired a new position in Core & Main during the 4th quarter worth $1,410,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on CNM. The Goldman Sachs Group upped their price objective on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, March 26th. Citigroup cut shares of Core & Main from a “buy” rating to a “neutral” rating and upped their target price for the company from $63.00 to $64.00 in a research report on Friday, April 5th. Truist Financial reiterated a “hold” rating and set a $38.00 target price on shares of Core & Main in a research report on Wednesday, March 20th. Barclays upped their target price on shares of Core & Main from $49.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. boosted their target price on Core & Main from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.08.

Insider Buying and Selling at Core & Main

In other Core & Main news, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $40.98, for a total value of $938,762,258.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Jeffrey D. Giles sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $44.14, for a total value of $1,765,600.00. Following the transaction, the vice president now owns 8,217 shares of the company’s stock, valued at $362,698.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Cd&R Investment Associates X, sold 22,907,815 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $40.98, for a total value of $938,762,258.70. The disclosure for this sale can be found here. Insiders have sold 23,363,315 shares of company stock worth $960,746,759 over the last 90 days. Company insiders own 3.49% of the company’s stock.

Core & Main Stock Performance

CNM opened at $54.58 on Friday. Core & Main, Inc. has a 52-week low of $24.83 and a 52-week high of $60.83. The firm has a market capitalization of $10.99 billion, a PE ratio of 25.39, a PEG ratio of 1.71 and a beta of 1.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.30 and a current ratio of 2.29. The business’s 50-day simple moving average is $51.74 and its 200 day simple moving average is $41.54.

Core & Main (NYSE:CNM) last released its earnings results on Tuesday, March 19th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Core & Main had a return on equity of 18.22% and a net margin of 5.54%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter in the prior year, the company posted $0.31 earnings per share. Core & Main’s revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Core & Main, Inc. will post 2.59 earnings per share for the current fiscal year.

Core & Main Company Profile

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.