Vanguard Group Inc. Sells 106,652 Shares of Core & Main, Inc. $CNM

Key Points

• Vanguard trimmed its stake in Core & Main by 0.6% (selling 106,652 shares), leaving it with 17,598,217 shares — roughly 9.00% of the company worth about $914.6 million.
• Insider activity: Director James D. Hope purchased 1,972 shares at $50.70, while CFO Robyn L. Bradbury sold 5,000 shares at $52.54 under a pre‑arranged Rule 10b5‑1 plan; company insiders now own 3.53% of the stock.
• Analyst view: the consensus is a “Moderate Buy” with an average target of $61.64 versus a recent share price near $49.04, and a 52‑week range of $43.96–$67.18.

Vanguard Group Inc. decreased its position in shares of Core & Main, Inc. (NYSE:CNM - Free Report) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,598,217 shares of the company's stock after selling 106,652 shares during the quarter. Vanguard Group Inc. owned approximately 9.00% of Core & Main worth $914,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 269 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of Core & Main during the 4th quarter worth $26,000. Whittier Trust Co. bought a new stake in Core & Main during the fourth quarter valued at about $28,000. Cubist Systematic Strategies LLC boosted its position in 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 purchasing an additional 524 shares in the last quarter. Finally, Rothschild Investment LLC boosted its position in 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 purchasing an additional 752 shares in the last quarter. Institutional investors own 94.19% of the company's stock.

Insider Activity

In other Core & Main news, Director James D. Hope purchased 1,972 shares of the stock in a transaction on Tuesday, April 7th. The stock was acquired at an average price of $50.70 per share, with a total value of $99,980.40. Following the completion of the acquisition, the director owned 6,939 shares in the company, valued at $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robyn L. Bradbury sold 5,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $656,750. This represents a 28.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CNM has been the topic of a number of recent research reports. Citigroup raised 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. 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 research report on Wednesday, March 25th. Barclays dropped their price objective on Core & Main from $63.00 to $62.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 25th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $63.00 price objective on shares of Core & Main in a research report on Friday, January 9th. Finally, Zacks Research downgraded Core & Main from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 9th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $61.64.

Core & Main Price Performance

Shares of NYSE CNM opened at $49.04 on Friday. 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 company has a market cap of $9.55 billion, a PE ratio of 21.23, a P/E/G ratio of 1.77 and a beta of 0.93. The business has a 50-day simple moving average of $50.81 and a two-hundred day simple moving average of $52.40. Core & Main, Inc. has a fifty-two week low of $43.96 and a fifty-two week high of $67.18.

Core & Main 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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