SG Americas Securities LLC Trims Position in Core & Main, Inc. $CNM

SG Americas Securities LLC trimmed its position in shares of Core & Main, Inc. (NYSE:CNM – Free Report) by 33.1% during the 4th quarter, Holdings Channel reports. The firm owned 82,164 shares of the company’s stock after selling 40,642 shares during the period. SG Americas Securities LLC’s holdings in Core & Main were worth $4,270,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in Core & Main by 145.4% in 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 during the period. Cubist Systematic Strategies LLC raised its holdings 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 acquiring an additional 524 shares during the period. Rothschild Investment LLC raised its holdings 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 acquiring an additional 752 shares during the period. Wilmington Savings Fund Society FSB lifted its position in shares of Core & Main by 47.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock valued at $52,000 after acquiring an additional 311 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Core & Main by 108.5% in the third quarter. Farther Finance Advisors LLC now owns 1,026 shares of the company’s stock worth $55,000 after acquiring an additional 534 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Core & Main Trading Up 3.2%

Shares of Core & Main stock opened at $51.00 on Thursday. Core & Main, Inc. has a twelve month low of $43.17 and a twelve month high of $67.18. 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 business has a 50-day moving average price of $53.26 and a 200-day moving average price of $52.45. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 1.78 and a beta of 1.00.

Core & Main declared that its board has authorized a stock repurchase plan on Tuesday, December 9th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy up to 5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

CNM has been the subject of several research analyst reports. Citigroup increased their target price on Core & Main from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Core & Main from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Robert W. Baird increased their price objective on shares of Core & Main from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Wells Fargo & Company lifted their price objective on shares of Core & Main from $57.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Core & Main from $58.00 to $59.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.64.

Get Our Latest Stock Report on CNM

Core & Main Company Profile

(Free Report)

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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