Edgestream Partners L.P. Has $9.96 Million Stock Holdings in Core & Main, Inc. $CNM

Key Points

• Edgestream Partners increased its Core & Main stake by 818% in the first quarter, acquiring 179,618 additional shares for a total holding worth approximately $9.96 million.
• Institutional investors own 94.19% of Core & Main, while director James D. Hope purchased 2,067 shares at an average price of $46.01, increasing his position by 21.23%.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $56.70; CNM recently opened at $42.36.

Edgestream Partners L.P. raised its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 818.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 201,577 shares of the company's stock after acquiring an additional 179,618 shares during the quarter. Edgestream Partners L.P. owned approximately 0.10% of Core & Main worth $9,958,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CNM. Deutsche Bank AG lifted its holdings in Core & Main by 1.1% during the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company's stock worth $928,000 after buying an additional 190 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Core & Main by 13.8% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company's stock valued at $109,000 after buying an additional 237 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in shares of Core & Main by 4.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company's stock valued at $283,000 after buying an additional 261 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Core & Main by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company's stock worth $27,000 after acquiring an additional 269 shares during the last quarter. Finally, Steph & Co. lifted its stake in shares of Core & Main by 36.6% in the fourth quarter. Steph & Co. now owns 1,037 shares of the company's stock worth $54,000 after acquiring an additional 278 shares during the period. Institutional investors and hedge funds own 94.19% of the company's stock.

Insider Buying and Selling

In related news, Director James D. Hope purchased 2,067 shares of the firm's stock in a transaction on Monday, July 6th. The stock was purchased at an average cost of $46.01 per share, with a total value of $95,102.67. Following the completion of the purchase, the director owned 11,805 shares in the company, valued at approximately $543,148.05. This trade represents a 21.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CNM shares. William Blair began coverage on shares of Core & Main in a research report on Thursday, July 23rd. They set a "market perform" rating for the company. Wall Street Zen raised shares of Core & Main from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. The Goldman Sachs Group reiterated a "neutral" rating and set a $24.00 price objective on shares of Core & Main in a research report on Thursday, June 11th. Finally, Citigroup lowered their target price on shares of Core & Main from $54.00 to $53.00 and set a "neutral" rating for the company in a research note 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 stock. According to MarketBeat.com, Core & Main currently has a consensus rating of "Moderate Buy" and an average price target of $56.70.

Core & Main Stock Performance

NYSE:CNM opened at $42.36 on Thursday. 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 twelve month low of $41.88 and a twelve month high of $67.18. The company has a fifty day moving average of $47.15 and a 200-day moving average of $50.56. The firm has a market capitalization of $8.20 billion, a P/E ratio of 17.95, a P/E/G ratio of 1.52 and a beta of 0.91.

About Core & Main

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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