Danske Bank A S Sells 20,165 Shares of Core & Main, Inc. $CNM

Key Points

• Danske Bank A/S sold 20,165 shares of Core & Main in Q4, trimming its position by 92.2% to just 1,700 shares worth about $88,000.
• Large institutions have been increasing exposure—Capital World Investors boosted its stake by 294.9% to 5,948,134 shares (~$320.2M)—and institutional ownership of CNM stands at 94.19%.
• Analysts have a consensus rating of “Moderate Buy” with a $61.64 average price target after mixed revisions, while CNM trades near $49.72 (12‑month range $43.96–$67.18).

Danske Bank A S decreased its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 92.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,700 shares of the company's stock after selling 20,165 shares during the quarter. Danske Bank A S's holdings in Core & Main were worth $88,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors grew its stake in shares of Core & Main by 294.9% during the 3rd quarter. Capital World Investors now owns 5,948,134 shares of the company's stock worth $320,188,000 after acquiring an additional 4,442,047 shares during the period. First Trust Advisors LP grew its stake in shares of Core & Main by 10.7% during the 3rd quarter. First Trust Advisors LP now owns 3,835,835 shares of the company's stock worth $206,483,000 after acquiring an additional 369,200 shares during the period. Impax Asset Management Group plc grew its stake in shares of Core & Main by 10.8% during the 4th quarter. Impax Asset Management Group plc now owns 2,872,595 shares of the company's stock worth $149,289,000 after acquiring an additional 279,373 shares during the period. Handelsbanken Fonder AB grew its stake in shares of Core & Main by 0.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,850,232 shares of the company's stock worth $153,428,000 after acquiring an additional 26,799 shares during the period. Finally, Samlyn Capital LLC boosted its stake in Core & Main by 5.9% in the 3rd quarter. Samlyn Capital LLC now owns 2,660,811 shares of the company's stock worth $143,231,000 after purchasing an additional 147,166 shares during the period. Institutional investors own 94.19% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on CNM shares. Deutsche Bank Aktiengesellschaft cut their target price on Core & Main from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th. Barclays cut their target price on Core & Main from $63.00 to $62.00 and set an "overweight" rating for the company in a research note on Wednesday, March 25th. Citigroup raised their target price on Core & Main from $56.00 to $60.00 and gave the stock a "neutral" rating in a research note on Thursday, January 8th. Zacks Research downgraded Core & Main from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 9th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 price target on shares of Core & Main in a research report on Friday, January 9th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $61.64.

Core & Main Stock Performance

Shares of CNM opened at $49.72 on Friday. The company has a market cap of $9.68 billion, a PE ratio of 21.52, a price-to-earnings-growth ratio of 1.83 and a beta of 0.93. The company has a current ratio of 2.63, a quick ratio of 1.51 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average price of $50.47 and a 200-day moving average price of $52.36. Core & Main, Inc. has a 12-month low of $43.96 and a 12-month high of $67.18.

Insider Transactions at Core & Main

In other Core & Main news, Director James D. Hope purchased 1,972 shares of the company's stock in a transaction dated Tuesday, April 7th. The stock was purchased at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the transaction, the director owned 6,939 shares in the company, valued at $351,807.30. The trade was a 39.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of Core & Main stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the sale, the chief financial officer owned 12,500 shares of the company's stock, valued at approximately $656,750. This trade represents a 28.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.53% of the company's stock.

Core & Main Company 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.

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