Horizon Investments LLC Acquires Shares of 34,196 Core & Main, Inc. $CNM

Key Points

• Horizon Investments LLC acquired a new stake of 34,196 shares in Core & Main (NYSE:CNM) during Q4, valued at approximately $1.78 million.
• Institutional investors own a large majority of the stock at 94.19%, and Wall Street’s consensus rating is a “Moderate Buy” with an average price target of $61.64.
• Insider activity included Director James D. Hope buying 1,972 shares at $50.70 and CFO Robyn L. Bradbury selling 5,000 shares at $52.54 under a Rule 10b5-1 plan; corporate insiders own about 3.53% of the stock.

Horizon Investments LLC acquired a new stake in Core & Main, Inc. (NYSE:CNM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 34,196 shares of the company's stock, valued at approximately $1,777,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 269 shares during the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of Core & Main during the fourth quarter valued at approximately $26,000. Whittier Trust Co. bought a new position in shares of Core & Main during the fourth quarter valued at approximately $28,000. Cubist Systematic Strategies LLC raised its holdings in shares of Core & Main by 262.0% during the first 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, Rothschild Investment LLC raised its holdings in shares of Core & Main by 5,013.3% during the third quarter. Rothschild Investment LLC now owns 767 shares of the company's stock valued at $41,000 after acquiring an additional 752 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Zacks Research downgraded Core & Main from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Core & Main from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Royal Bank Of Canada restated an "outperform" rating and set a $63.00 target price on shares of Core & Main in a report on Friday, January 9th. Wells Fargo & Company upped their target price on Core & Main from $57.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, January 14th. Finally, Barclays decreased their target price on Core & Main from $63.00 to $62.00 and set an "overweight" rating for the company in a report on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.64.

Insider Buying and Selling at Core & Main

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

Core & Main Price Performance

Shares of CNM stock opened at $49.07 on Wednesday. The stock has a market cap of $9.55 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.75 and a beta of 0.93. The business's fifty day moving average is $50.67 and its 200 day moving average is $52.38. Core & Main, Inc. has a twelve month low of $43.96 and a twelve month high of $67.18. The company has a quick ratio of 1.51, a current ratio of 2.63 and a debt-to-equity ratio of 1.02.

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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