Thrivent Financial for Lutherans Makes New $868,000 Investment in Core & Main, Inc. (NYSE:CNM)

Thrivent Financial for Lutherans bought a new position in shares of Core & Main, Inc. (NYSE:CNM – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 44,958 shares of the company’s stock, valued at approximately $868,000.

Other institutional investors have also recently made changes to their positions in the company. Teza Capital Management LLC purchased a new stake in shares of Core & Main during the third quarter worth $660,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Core & Main by 203.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,942 shares of the company’s stock valued at $578,000 after purchasing an additional 20,074 shares in the last quarter. Putnam Investments LLC raised its position in shares of Core & Main by 11.1% in the third quarter. Putnam Investments LLC now owns 312,619 shares of the company’s stock worth $7,109,000 after buying an additional 31,345 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in Core & Main by 34.0% during the third quarter. Vontobel Holding Ltd. now owns 62,222 shares of the company’s stock valued at $1,413,000 after buying an additional 15,790 shares during the period. Finally, Convergence Investment Partners LLC purchased a new position in Core & Main during the third quarter worth about $124,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Core & Main Price Performance

Shares of NYSE:CNM opened at $26.91 on Wednesday. The stock has a market cap of $6.62 billion, a PE ratio of 12.63 and a beta of 0.83. The company’s fifty day moving average is $24.49 and its 200 day moving average is $22.45. Core & Main, Inc. has a 52 week low of $18.75 and a 52 week high of $27.72. The company has a quick ratio of 1.60, a current ratio of 3.05 and a debt-to-equity ratio of 0.60.

Core & Main (NYSE:CNM – Get Rating) last issued its earnings results on Tuesday, April 4th. The company reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Core & Main had a net margin of 5.50% and a return on equity of 20.64%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS. Research analysts anticipate that Core & Main, Inc. will post 1.87 earnings per share for the current year.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 24,793 shares of Core & Main stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $23.04, for a total value of $571,230.72. Following the transaction, the general counsel now directly owns 5,286 shares of the company’s stock, valued at approximately $121,789.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Core & Main news, President Bradford A. Cowles sold 25,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $27.31, for a total value of $682,750.00. Following the transaction, the president now owns 14,679 shares in the company, valued at $400,883.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Mark G. Whittenburg sold 24,793 shares of the business’s stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $23.04, for a total transaction of $571,230.72. Following the completion of the transaction, the general counsel now owns 5,286 shares in the company, valued at approximately $121,789.44. The disclosure for this sale can be found here. Insiders have sold 14,823,758 shares of company stock valued at $329,803,337 in the last ninety days. Company insiders own 3.49% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CNM shares. Loop Capital started coverage on Core & Main in a report on Monday, February 13th. They issued a “buy” rating and a $28.00 price target on the stock. Truist Financial raised their price target on Core & Main from $22.00 to $24.00 and gave the company a “hold” rating in a report on Thursday, March 30th. Royal Bank of Canada raised their price objective on shares of Core & Main from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, March 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Core & Main from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 3rd. Finally, Robert W. Baird raised their price objective on shares of Core & Main from $29.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, March 29th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.33.

Core & Main Profile

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Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.