KBC Group NV Boosts Stock Position in Core & Main, Inc. $CNM

Key Points

• KBC Group NV boosted its stake in Core & Main by 11.6% in Q4, owning 2,618,916 shares (about 1.34% of the company) valued at roughly $136.1 million.
• Institutional ownership is very high at 94.19%, with several large managers (e.g., Capital World Investors, First Trust, Dimensional) substantially increasing positions in recent quarters.
• Analysts hold a consensus of Moderate Buy with an average price target of $61.64, while the stock trades near $53.30 (1‑year range $43.96–$67.18), suggesting potential upside to consensus targets.

KBC Group NV increased its holdings in Core & Main, Inc. (NYSE:CNM - Free Report) by 11.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,618,916 shares of the company's stock after purchasing an additional 272,258 shares during the period. KBC Group NV owned approximately 1.34% of Core & Main worth $136,105,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CNM. Capital World Investors grew its stake in shares of Core & Main by 294.9% in the 3rd quarter. Capital World Investors now owns 5,948,134 shares of the company's stock worth $320,188,000 after buying an additional 4,442,047 shares in the last quarter. First Trust Advisors LP raised its position 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 valued at $206,483,000 after buying an additional 369,200 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Core & Main by 0.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,850,232 shares of the company's stock valued at $153,428,000 after acquiring an additional 26,799 shares during the last quarter. Samlyn Capital LLC grew its position in Core & Main by 5.9% in the third quarter. Samlyn Capital LLC now owns 2,660,811 shares of the company's stock worth $143,231,000 after acquiring an additional 147,166 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Core & Main by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,309,551 shares of the company's stock worth $124,320,000 after acquiring an additional 38,896 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James D. Hope purchased 1,972 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The stock was purchased at an average cost of $50.70 per share, with a total value of $99,980.40. Following the purchase, the director owned 6,939 shares of the company's stock, valued at approximately $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.53% of the company's stock.

Analyst Upgrades and Downgrades

CNM has been the topic of a number of recent research reports. Royal Bank Of Canada restated an "outperform" rating and set a $63.00 price objective on shares of Core & Main in a research report on Friday, January 9th. Barclays dropped 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. Zacks Research downgraded Core & Main from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 9th. Citigroup increased their price target on Core & Main from $56.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, January 8th. Finally, Wells Fargo & Company raised their price target on Core & Main from $57.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 14th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and an average price target of $61.64.

Core & Main Stock Performance

Core & Main stock opened at $53.30 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.63 and a quick ratio of 1.51. The firm has a market capitalization of $10.38 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.95 and a beta of 1.00. Core & Main, Inc. has a 1-year low of $43.96 and a 1-year high of $67.18. The company's 50-day moving average is $52.45 and its 200 day moving average is $52.55.

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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