Dimensional Fund Advisors LP Acquires 152,077 Shares of Core & Main, Inc. $CNM

Key Points

• Dimensional Fund Advisors increased its Core & Main stake by 6.1% in the first quarter, adding 152,077 shares to own 2.66 million shares worth approximately $131.4 million, or 1.37% of the company.
• Institutional investors own 94.19% of Core & Main, while director James D. Hope purchased 2,067 shares for about $95,103, increasing his holdings by 21.23%.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $56.70 price target. CNM opened at $43.63, near its 12-month low of $42.50.

Dimensional Fund Advisors LP raised its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,661,022 shares of the company's stock after acquiring an additional 152,077 shares during the period. Dimensional Fund Advisors LP owned about 1.37% of Core & Main worth $131,425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company's stock valued at $27,000 after buying an additional 269 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in Core & Main in the 4th quarter valued at $26,000. Whittier Trust Co. bought a new stake in Core & Main in the 4th quarter valued at $28,000. Cubist Systematic Strategies LLC lifted its position in Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock valued at $35,000 after acquiring an additional 524 shares in the last quarter. Finally, Quarry LP acquired a new position in Core & Main in the 4th quarter worth $38,000. 94.19% of the stock is currently owned by institutional investors.

Insider Activity at Core & Main

In other news, Director James D. Hope acquired 2,067 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was bought at an average price of $46.01 per share, with a total value of $95,102.67. Following the transaction, the director directly owned 11,805 shares in the company, valued at approximately $543,148.05. The trade was a 21.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.51% of the stock is currently owned by company insiders.

Core & Main Trading Up 0.0%

Shares of Core & Main stock opened at $43.63 on Tuesday. The stock has a market cap of $8.44 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.51 and a beta of 0.91. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. Core & Main, Inc. has a 12-month low of $42.50 and a 12-month high of $67.18. The business's 50 day moving average is $47.26 and its 200-day moving average is $50.71.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CNM shares. William Blair assumed coverage on Core & Main in a report on Thursday. They issued a "market perform" rating on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $24.00 target price on shares of Core & Main in a research report on Thursday, June 11th. Wall Street Zen upgraded Core & Main from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Citigroup reduced their price target on Core & Main from $54.00 to $53.00 and set a "neutral" rating for the company in a research report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.70.

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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