Gitterman Wealth Management LLC Increases Stock Position in Core & Main, Inc. (NYSE:CNM)

Gitterman Wealth Management LLC boosted its stake in Core & Main, Inc. (NYSE:CNM) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,097 shares of the company’s stock after purchasing an additional 1,673 shares during the quarter. Core & Main comprises approximately 0.3% of Gitterman Wealth Management LLC’s portfolio, making the stock its 28th biggest holding. Gitterman Wealth Management LLC’s holdings in Core & Main were worth $616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its position in Core & Main by 28.0% during the third quarter. FMR LLC now owns 8,697,084 shares of the company’s stock valued at $386,151,000 after acquiring an additional 1,903,280 shares during the last quarter. State Street Corp grew its holdings in shares of Core & Main by 9.7% in the third quarter. State Street Corp now owns 5,522,009 shares of the company’s stock worth $245,177,000 after purchasing an additional 489,224 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Core & Main by 1.0% in the third quarter. Pacer Advisors Inc. now owns 4,250,219 shares of the company’s stock worth $188,710,000 after purchasing an additional 41,521 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Core & Main by 39.9% in the third quarter. Royal London Asset Management Ltd. now owns 3,761,906 shares of the company’s stock valued at $167,029,000 after acquiring an additional 1,073,451 shares in the last quarter. Finally, Amundi boosted its holdings in Core & Main by 5.7% in the fourth quarter. Amundi now owns 3,659,261 shares of the company’s stock valued at $186,722,000 after acquiring an additional 196,828 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CNM shares. Truist Financial raised their price objective on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $62.00 price objective (up from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on Core & Main from $50.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Wells Fargo & Company boosted their price target on Core & Main from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird boosted their price target on Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.60.

Core & Main Stock Up 3.0 %

NYSE:CNM opened at $47.65 on Friday. The firm has a market capitalization of $9.47 billion, a P/E ratio of 22.37, a PEG ratio of 2.61 and a beta of 1.05. Core & Main, Inc. has a 1-year low of $37.22 and a 1-year high of $62.15. The company’s fifty day moving average price is $52.60 and its 200-day moving average price is $48.49. The company has a debt-to-equity ratio of 1.36, a current ratio of 2.14 and a quick ratio of 1.28.

Insider Buying and Selling

In other news, President Bradford A. Cowles sold 12,500 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.50, for a total value of $631,250.00. Following the completion of the sale, the president now directly owns 16,010 shares in the company, valued at $808,505. This represents a 43.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John R. Schaller sold 21,868 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $46.82, for a total transaction of $1,023,859.76. Following the sale, the executive vice president now owns 16,452 shares of the company’s stock, valued at approximately $770,282.64. The trade was a 57.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,294 shares of company stock valued at $9,383,685. Corporate insiders own 3.49% of the company’s stock.

About Core & Main

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.