Thomasville National Bank Buys New Shares in Core & Main, Inc. $CNM

Key Points

• Thomasville National Bank bought a new position of 213,816 shares of Core & Main in Q4, valued at about $11.11 million, representing roughly 0.11% ownership.
• Analysts maintain a consensus rating of "Moderate Buy" with a consensus target price of $61.64, and several firms have recently adjusted targets into the roughly $60–$63 range.
• Institutional investors own about 94.19% of the stock, while insider Director James D. Hope purchased 1,972 shares at $50.70, increasing his stake by 39.7%.

Thomasville National Bank bought a new position in Core & Main, Inc. (NYSE:CNM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 213,816 shares of the company's stock, valued at approximately $11,112,000. Thomasville National Bank owned 0.11% of Core & Main as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Diversified Management Inc. purchased a new stake in Core & Main during the fourth quarter valued at about $201,000. KBC Group NV increased its holdings in shares of Core & Main by 11.6% in the fourth quarter. KBC Group NV now owns 2,618,916 shares of the company's stock worth $136,105,000 after buying an additional 272,258 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Core & Main by 37.5% in the 4th quarter. Farther Finance Advisors LLC now owns 1,411 shares of the company's stock valued at $73,000 after acquiring an additional 385 shares during the last quarter. Steph & Co. boosted its holdings in Core & Main by 36.6% during the 4th quarter. Steph & Co. now owns 1,037 shares of the company's stock valued at $54,000 after acquiring an additional 278 shares during the period. Finally, Trium Capital LLP grew its position in Core & Main by 134.1% during the 4th quarter. Trium Capital LLP now owns 16,238 shares of the company's stock worth $844,000 after acquiring an additional 9,302 shares during the last quarter. 94.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNM has been the subject of several recent research reports. Citigroup boosted their price objective on Core & Main from $56.00 to $60.00 and gave the company a "neutral" rating in a research report on Thursday, January 8th. Royal Bank Of Canada reiterated an "outperform" rating and set a $63.00 price target on shares of Core & Main in a report on Friday, January 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Core & Main from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Barclays lowered their price objective on shares of Core & Main from $63.00 to $62.00 and set an "overweight" rating for the company in a research note on Wednesday, March 25th. Finally, Zacks Research cut Core & Main from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 9th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $61.64.

Core & Main Stock Down 2.6%

Shares of NYSE:CNM opened at $51.95 on Friday. The firm has a market capitalization of $10.11 billion, a P/E ratio of 22.49, a P/E/G ratio of 1.93 and a beta of 1.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63. The stock has a 50 day moving average price of $52.37 and a 200-day moving average price of $52.54. Core & Main, Inc. has a 52-week low of $43.96 and a 52-week high of $67.18.

Insider Buying and Selling

In other Core & Main news, Director James D. Hope bought 1,972 shares of the company's stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price of $50.70 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.53% of the company's stock.

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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