Robeco Schweiz AG Sells 232,634 Shares of Core & Main, Inc. $CNM

Key Points

• Robeco Schweiz AG cut its stake in Core & Main by 22.1%, selling 232,634 shares and now holds 818,544 shares valued at $42.54 million.
• Insider activity showed the CFO, Robyn L. Bradbury, sold 5,000 shares under a Rule 10b5‑1 plan (a 28.6% reduction in her position) while Director James D. Hope bought 1,972 shares; institutional ownership stands at 94.19% and insiders hold 3.53%.
• Analysts have a “Moderate Buy” consensus with an average target of $61.64; CNM trades around $50.69 with a market cap of about $9.87 billion, a P/E of 21.94, and a 12‑month range of $43.96–$67.18.

Robeco Schweiz AG lessened its stake in Core & Main, Inc. (NYSE:CNM - Free Report) by 22.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 818,544 shares of the company's stock after selling 232,634 shares during the period. Robeco Schweiz AG owned 0.42% of Core & Main worth $42,540,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital World Investors raised its position in shares of Core & Main by 294.9% during the 3rd quarter. Capital World Investors now owns 5,948,134 shares of the company's stock valued at $320,188,000 after acquiring an additional 4,442,047 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Core & Main during the 3rd quarter valued at $100,765,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Core & Main during the 3rd quarter valued at $67,284,000. Schonfeld Strategic Advisors LLC raised its position in shares of Core & Main by 286.6% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,379,820 shares of the company's stock valued at $74,276,000 after acquiring an additional 1,022,864 shares during the last quarter. Finally, Bornite Capital Management LP bought a new stake in shares of Core & Main during the 3rd quarter valued at $53,830,000. Institutional investors own 94.19% of the company's stock.

Insider Buying and Selling at Core & Main

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the business's stock in a transaction on Friday, April 17th. The shares were sold at an average price of $52.54, for a total value of $262,700.00. Following the completion of the transaction, the chief financial officer owned 12,500 shares of the company's stock, valued at $656,750. The trade was a 28.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope purchased 1,972 shares of the firm's stock in a transaction dated 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 acquisition, the director directly owned 6,939 shares in the company, valued at $351,807.30. This trade represents a 39.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.53% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays dropped their target price on shares of Core & Main from $63.00 to $62.00 and set an "overweight" rating for the company in a research report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Core & Main from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, March 25th. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 target price on shares of Core & Main in a research report on Friday, January 9th. Zacks Research cut shares of Core & Main from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 9th. Finally, Citigroup upped their target price on shares of Core & Main from $56.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, January 8th. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $61.64.

Core & Main Price Performance

Shares of CNM stock opened at $50.69 on Thursday. Core & Main, Inc. has a 12-month low of $43.96 and a 12-month high of $67.18. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 1.77 and a beta of 0.93. The company has a quick ratio of 1.51, a current ratio of 2.63 and a debt-to-equity ratio of 1.02. The firm has a fifty day moving average of $50.59 and a 200-day moving average of $52.37.

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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