Core & Main, Inc. (NYSE:CNM) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Core & Main, Inc. (NYSE:CNM) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,666,765 shares of the company’s stock after acquiring an additional 122,240 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.84% of Core & Main worth $84,855,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. FMR LLC raised its position in Core & Main by 28.0% in the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock worth $386,151,000 after acquiring an additional 1,903,280 shares in the last quarter. State Street Corp raised its position in Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after acquiring an additional 489,224 shares in the last quarter. Pacer Advisors Inc. raised its position in Core & Main by 1.0% in the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after acquiring an additional 41,521 shares in the last quarter. Royal London Asset Management Ltd. raised its position in Core & Main by 39.9% in the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock worth $167,029,000 after acquiring an additional 1,073,451 shares in the last quarter. Finally, Impax Asset Management Group plc raised its position in Core & Main by 70.4% in the fourth quarter. Impax Asset Management Group plc now owns 3,430,787 shares of the company’s stock worth $174,661,000 after acquiring an additional 1,416,907 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Analyst Ratings Changes

CNM has been the subject of a number of research analyst reports. Citigroup raised their price target on Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $62.00 price target (up previously from $53.00) on shares of Core & Main in a research report on Wednesday, December 4th. Loop Capital raised their price target on Core & Main from $52.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their price objective on Core & Main from $60.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price objective on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Insiders Place Their Bets

In other news, General Counsel Mark G. Whittenburg sold 1,974 shares of Core & Main stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $55.29, for a total value of $109,142.46. Following the transaction, the general counsel now directly owns 7,667 shares of the company’s stock, valued at $423,908.43. The trade was a 20.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the completion of the transaction, the president now directly owns 16,010 shares in the company, valued at $808,505. This represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,426 shares of company stock valued at $8,359,825. Insiders own 3.49% of the company’s stock.

Core & Main Stock Down 2.4 %

Shares of NYSE:CNM opened at $46.72 on Tuesday. The stock’s 50-day moving average price is $52.95 and its two-hundred day moving average price is $48.62. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main, Inc. has a 12-month low of $37.22 and a 12-month high of $62.15. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.61 and a beta of 1.05.

Core & Main Company 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.