Impax Asset Management Group plc Raises Holdings in Core & Main, Inc. $CNM

Key Points

• Impax Asset Management Group plc raised its stake in Core & Main by 10.8% in Q4 to 2,872,595 shares, representing a 1.47% stake worth about $149.29 million.
• Insider activity included Director James D. Hope buying 1,972 shares (a ~39.7% increase in his holding) while CFO Robyn L. Bradbury sold 5,000 shares under a pre‑arranged Rule 10b5‑1 plan.
• Analysts are broadly positive with an average rating of "Moderate Buy" and an average target of $61.64; CNM trades at a roughly $9.64 billion market cap and a P/E of 21.44.

Impax Asset Management Group plc grew its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,872,595 shares of the company's stock after buying an additional 279,373 shares during the period. Impax Asset Management Group plc owned 1.47% of Core & Main worth $149,289,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNM. TD Waterhouse Canada Inc. purchased a new position in shares of Core & Main during the 4th quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its holdings in Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company's stock worth $27,000 after purchasing an additional 269 shares in the last quarter. Whittier Trust Co. purchased a new stake in Core & Main during the 4th quarter worth about $28,000. Cubist Systematic Strategies LLC lifted its holdings in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company's stock worth $35,000 after purchasing an additional 524 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in Core & Main by 5,013.3% during the 3rd quarter. Rothschild Investment LLC now owns 767 shares of the company's stock worth $41,000 after purchasing an additional 752 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Stock Performance

Shares of NYSE CNM opened at $49.52 on Friday. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.77 and a beta of 1.00. The company has a current ratio of 2.63, a quick ratio of 1.51 and a debt-to-equity ratio of 1.02. Core & Main, Inc. has a 1-year low of $43.96 and a 1-year high of $67.18. The stock's 50-day moving average is $51.42 and its 200 day moving average is $52.41.

Insider Transactions at Core & Main

In other news, Director James D. Hope acquired 1,972 shares of the firm's 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 acquisition, the director owned 6,939 shares in the company, valued at approximately $351,807.30. This represents a 39.70% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm's 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 transaction, the chief financial officer directly owned 12,500 shares in the company, valued at approximately $656,750. This represents 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. Company insiders own 3.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CNM shares. Deutsche Bank Aktiengesellschaft dropped their price objective on Core & Main from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Wells Fargo & Company increased their price objective on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. Royal Bank Of Canada reissued an "outperform" rating and set a $63.00 price objective on shares of Core & Main in a report on Friday, January 9th. Zacks Research cut Core & Main from a "strong-buy" rating to a "hold" rating in a report on Monday, February 9th. Finally, Citigroup increased their price objective on Core & Main from $56.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, January 8th. Seven research 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 presently has an average rating of "Moderate Buy" and an average target price of $61.64.

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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