Skandinaviska Enskilda Banken AB publ Buys 242,400 Shares of Core & Main, Inc. (NYSE:CNM)

Skandinaviska Enskilda Banken AB publ raised its position in Core & Main, Inc. (NYSE:CNM) by 44.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 786,800 shares of the company’s stock after buying an additional 242,400 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.40% of Core & Main worth $39,946,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Eagle Asset Management Inc. boosted its holdings in Core & Main by 2.6% in the third quarter. Eagle Asset Management Inc. now owns 1,720,496 shares of the company’s stock valued at $74,979,000 after acquiring an additional 44,282 shares during the last quarter. Quest Partners LLC boosted its stake in shares of Core & Main by 1,195,600.0% in the 3rd quarter. Quest Partners LLC now owns 11,957 shares of the company’s stock valued at $531,000 after purchasing an additional 11,956 shares during the last quarter. Impax Asset Management Group plc grew its position in shares of Core & Main by 70.4% during the 4th quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after buying an additional 1,416,907 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Core & Main during the third quarter worth approximately $774,000. Finally, South Street Advisors LLC lifted its holdings in Core & Main by 36.0% in the third quarter. South Street Advisors LLC now owns 234,144 shares of the company’s stock valued at $10,396,000 after buying an additional 61,962 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CNM. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Citigroup increased their target price on Core & Main from $43.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Barclays boosted their price target on Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Truist Financial increased their price objective on Core & Main from $38.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Core & Main Stock Up 2.0 %

CNM stock opened at $47.47 on Thursday. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 22.29, a P/E/G 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 business has a 50 day moving average price of $52.80 and a two-hundred day moving average price of $48.56. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36.

Insiders Place Their Bets

In related news, EVP John R. Schaller sold 21,868 shares of Core & Main stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now directly owns 16,452 shares of the company’s stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 50,000 shares of Core & Main stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the sale, the general counsel now directly owns 7,667 shares in the company, valued at $387,106.83. The trade was a 86.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 184,294 shares of company stock worth $9,383,685 in the last quarter. Corporate insiders own 3.49% of the company’s stock.

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.